Binance has refuted recent reports suggesting that DWF Labs were involved in market manipulation activities. The Wall Street Journal had published an article based on an anonymous Binance source, claiming the following: - READ
-In 2023, Binance allegedly discovered instances of market manipulation involving crypto assets such as YGG, amounting to $300 million, which were attributed to DWF Labs.
-Following these incidents, Binance reportedly dismissed the head of its surveillance team.
Binance has denied these allegations, asserting that its robust market surveillance program would prevent such activities. The exchange stated that it actively prohibits manipulative traders and has banned 355,000 users with a combined transaction volume exceeding $2.5 trillion over the past three years.
Additionally, DWF Labs has also discredited the information linking them to market manipulation, labeling it as unreliable.
