Binance freezes the related profits of market makers who sold approximately 66 million MOVEs on the day after the launch of MOVE

Binance announced that an investigation has found that a market maker in the Movement (MOVE) project has a connection with another market maker who was recently delisted due to violations. The market maker sold approximately 66 million MOVE tokens on December 10, 2024, the day after their launch. However, they bought fewer tokens and made a profit of 38 million USDT before being delisted on March 18, 2025. To protect users, Binance has frozen the relevant profits of the market maker, notified Movement Labs and Movement Foundation of its violations, and prohibited it from further market making activities on the platform. Earlier news, Movement： We will conduct a $38 million MOVE repurchase program on Binance within three months, and have cut ties with market makers who sold a large number of tokens after TGE.