Binance, the world’s largest cryptocurrency exchange, has decided to remove it from the exchange from the market maker (moving) of the Altcoin movement due to illegal activities.
Binance has announced that Move’s market maker has made a net profit of $38 million by selling 66 million mobile tokens.
“We have confirmed that the Movement Market Maker is associated with another market maker that has been recently removed from the exchange of illegal activities.
As a result, we removed the market maker from the exchange and banned all market production activities on Binance. ”
Binance also described the inappropriate behavior of the prohibited Move Market Maker, listing it as follows:
“The day after the move was listed on 2024-12-10 (UTC), the market makers sold around 66 million move tokens, with few purchase orders.
The market maker made a net profit of 38 million USDT before it was delisted on March 18, 2025. ”
Payment will be made as compensation!
Binance also added that to protect users, they will freeze the profits they earn from market makers, which will be paid to users as rewards.
“In addition, we have frozen profits created by market makers to compensate Binance users. Certain compensation plans will be announced later.”
Statement from the movement: We didn’t know!
In this situation, the athletic team remained silent and announced plans to buy back $38 million in a statement.
The team said the market maker’s illegal activities were carried out without permission, saying, “A vinance investigation revealed that market makers sold a large number of movements after listing. Market maker’s illegal activities occurred without permission. All contracts with the market maker can be terminated immediately and the next three months of vinance can be introduced.”
Moves have continued trading at $0.46, up 6% over the past 24 hours.
*This is not investment advice.
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