“The Binance Exchange has stopped working with an unknown market maker who served Token Move after detecting manipulations with the prices of the project. According to the statement, the participant sold 66 million coins shortly after their listing and received $ 38 million in profit. The Exchange has frozen these funds and transmitted the information of Movement Network Foundation, the Move issuer. Binance stated that the marketmier has already violated the standards of the platform. Representatives noted that a similar situation had occurred with tokens earlier […]”, – WRITE: Businessua.com.ua
The Binance Exchange has stopped working with an unknown market maker who served Token Move after detecting manipulations with the prices of the project.
According to a statement, a participant He sold 66 million coins shortly after their listing and received $ 38 million in profit. The Exchange has frozen these funds and transmitted the information of Movement Network Foundation, the Move issuer.
Binance stated that the marketmier has already violated the standards of the platform. Representatives noted that a similar situation had occurred with GPS and Shell tokens earlier, which was why access to the exchange was restricted on March 9.
On March 18, the marketer was finally removed from work on Binance.
Movement Network Foundation confirmed that it is not up to date with a partner’s action. The company broke up with a market maker and sent a message to other exchanges.
The issuer also announced the token redemption program for 38 million USDT, which will be implemented in three months. The funds will be transferred to the Movement Strategic Reserve to support the project ecosystem.
Against the backdrop of news, Move reacted in growth within 10%. At the time of writing, the token is traded at $ 0.4548 (Coingcko data).
15-minute MOVE/USDT Binance Exchange: TradingView.
We will remind, on March 25 the platform removed the employee of the team Binance Wallet for insider trade.
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