Wu said that Binance announced it has discovered a link between a market maker for the Movement (MOVE) project and another market maker that has recently been banned from continuing market-making activities on the platform due to improper conduct. The abnormal behavior of this market maker includes: one day after MOVE was launched (2024-12-10), this market maker sold approximately 66 million MOVE tokens, while there was almost no buy support. Before being terminated by Binance on 2025-03-18, this market maker had already garnered a net profit of approximately 38 million USDT. The Movement Network Foundation stated that Binance notified them on March 11 that it is investigating a market maker involved with multiple tokens (including MOVE). In response to this matter, the Movement Network Foundation has terminated all collaborations with this market maker and will initiate a MOVE repurchase plan totaling 38 million USD, which will be conducted on Binance over the next three months, with the purchased tokens transferred to a strategic reserve address.
