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Movement Network Foundation Takes Action Against Market Maker Misconduct Involving MOVE Token

The Movement Network Foundation has initiated an investigation into **irregular market maker activity** within the cryptocurrency ecosystem. Announced on April 22, the Foundation has tasked prominent intelligence firm **Groom Lake** to conduct a thorough review of these anomalies. Previously, the Foundation had alerted the community of potential misconduct involving a market maker allegedly mishandling multiple digital assets, including the **MOVE token**. This incident reportedly culminated in the market maker liquidating a significant volume of tokens following the MOVE **Token Generation Event** (TGE), contravening essential liquidity provision protocols.

Upon discovering the situation, the *Movement Network* swiftly terminated its relationship with the implicated party and provided full cooperation to exchanges, including Binance, in ongoing investigations. Following the recovery of approximately **$38 million**, the Foundation has committed to utilizing these funds for a strategic repurchase of MOVE tokens in the open market, thereby reinforcing its **”Movement Strategic Reserve.”** This repurchase is scheduled to occur over the next quarter at Binance, with plans for the acquired tokens to be securely transferred to the official on-chain wallet regularly.

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