“The Movement Network team initiated the investigation after Binance stopped cooperation with an unnamed marketmaker by manipulating the price of MOVE token. About it reports Blockworks. The Movement Labs representative confirmed the release of the third party’s involvement in the third party process. The co -founder of the track of the Manche River, against this background, took a “temporary vacation”. “Movement Network Foundation is tested after recent anomalies of market -makers – standard practice to ensure full transparency and accountability. […]”, – WRITE: Businessua.com.ua
The Movement Network team initiated the investigation after Binance stopped cooperation with an unnamed marketmaker by manipulating the price of MOVE token. About it reports Blockworks.
The Movement Labs representative confirmed the release of the third party’s involvement in the third party process. The co -founder of the track of the Manche River, against this background, took a “temporary vacation”.
“Movement Network Foundation is tested after recent anomalies of market -makers – standard practice to ensure full transparency and accountability. It would be inappropriate to speculate on potential results. Operations continue in normal mode, ”the statement said.
At the end of March, Binance removed from the work on the platform of the market -maker for the related Move token “Issues”.
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.
Binance noted that the marketmaker had 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.
Movement refused to reveal the suspect in market abuse of a partner. According to the well-known Zachxbt onchin, web3Port is said. Journalists have noted that the market -maker has been regularly present on social networks in recent months.
Over the last 30 days, MOVE quotes have fallen by almost 42%. The market capitalization of the asset is ~ $ 638 million per FDV of $ 2.6 billion.
Source: Coingcko.
Recall that experts called the insiders manipulation the reason for the recent collapse of the OM Rwa-Project Mantra by 90%. The coin lost $ 5.5 billion in capitalization.
Thought: The conspiracy between crypto -projections and marketmakers creates problems for the industry
The gun
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