Binance has taken measures against the abnormal behavior of MOVE market makers and has frozen profits for subsequent compensation to users

ChainCatcher news, Binance announced that it has discovered a connection between a market maker of the Movement (MOVE) project and another market maker that was recently banned from continuing market-making activities on the platform due to improper conduct.

According to the announcement, the abnormal behavior of this market maker includes: after the MOVE token was launched for one day (2024-12-10), this market maker sold approximately 66 million MOVE tokens, while there was almost no buy support. Before the partnership was terminated by Binance on 2025-03-18, this market maker had already gained a net profit of about 38 million USDT.

To protect user interests, Binance has taken the following measures:

• Notified the Movement Labs and Movement Foundation teams about the abnormal behavior of their market maker;
• Frozen the profits of this market maker for subsequent user compensation (specific compensation plans will be determined and announced by the project team later);
• Terminated cooperation with this market maker and prohibited any further market-making activities on the Binance platform.