Binance dealt with the Movement network for bridging contracts. The Binance Team stated that the ($MOVE) project market maker violated the market rules and is also associated with another market maker. Recently, Binance delisted and banned them from conducting any market-making activities on Binance due to violations.
The findings by the Binance team were a success through their unwavering dedication to eradicating fraud. Most importantly, for the security purposes of investors in the crypto market. Especially, Trump’s World Liberty Financial holds $3.42 million worth of MOVE, as per Arkham Intelligence data, in addition to the growing interest in the token.
“We found that the market maker had the following market-making behaviors, including: On December 10, 2024 (UTC+8), the day after the launch of the MOVE token, the market maker sold approximately 66 million MOVE tokens, with very few buying orders“. The team, in their investigations, said.
Furthermore, the Binance team said that the final profit of the market maker before they were delisted from the platform on March 18, 2025 (GMT+8) was 38 million USDT. The team also said to protect Binance users, “We have taken the following additional measures in response to the market maker’s misconduct”:
- Notification: The Binance team has notified the Movement Labs and Movement Foundation teams about market irregularities by their market makers.
- Freezing of Earnings: The Binance Team has taken a step by freezing the relevant earnings of the market maker.
- Compensation to Users: The Binance team urges the MOVE project to compensate Users. And the MOVE project has promised to use the market maker-related revenue to compensate users. The MOVE project has recently launched a Buy-Back Project.
- Delistment: The market maker has also been delisted and is henceforth prohibited from further performing market-making activities on Binance.
Was this sudden to The Movement Network?
The Movement Foundation said on their official blog that Binance sent warnings on March 11th about the misappropriation. The market-maker sold large amounts of Movement Network. move5.56 % Movement without providing the stipulated liquidity on the MOVE/USDT pair.
In Summary, the Movement Network has severed all relationships with the Market maker( eco-system and partnership inclusive). Also, funds were recovered and have begun with the new project called the Buy-back project.
