"The Binance team accuses DWF Labs of market manipulation. According to the WSJ, the fake trades were discovered during an internal investigation. As a result, Binance fired the head of compliance. 🕵️‍♂️

After filing an SEC lawsuit against Binance in 2023, the exchange promised to strive to build a safe and reliable platform. The study identified VIP clients involved in market manipulation.

Binance noticed that accounts were trading certain cryptocurrencies. DWF Labs invited potential clients to use an active trading position to increase token prices and create artificial volume on exchanges.

DWF Labs called the allegations unfounded and misrepresentative. Binance stated that it strictly adheres to market oversight and prevents abuse."