Binance has conducted an investigation into one of the Market Makers (MM) of GoPlus Security (GPS) and found that the MyShell (SHELL) project also used the same Market Maker. After identifying the misconduct of the Market Maker, Binance has implemented measures to ensure the rights and interests of users on the platform.

Binance's Handling Measures

1. Termination of the Market Maker's activities on Binance:Binance has officially removed this Market Maker from the platform and permanently banned all related market-making activities. This is to prevent actions that harm the transparency and stability of the market.

2. Recouping profits and compensating GPS and SHELL investors:All profits that the Market Maker earned from its activities on Binance have been recouped. These funds will be used to compensate investors who suffered losses due to the MM's actions. Details of the compensation plan will be announced by the relevant projects in the near future.

Regulations for Market Makers on Binance

Binance emphasizes that all authorized Market Makers on the platform must strictly comply with the following principles:

• Place buy and sell orders in a balanced manner to ensure market liquidity.
• Maintain a sufficient order volume within the required market depth to avoid disrupting liquidity.
• Maintain a reasonable and stable price spread, avoiding creating abnormal price fluctuations that affect user trading.
• Do not engage in market manipulation behaviors, including placing large orders and continuously canceling them (order spoofing) or causing disruption through high-frequency trading.

Commitment to Protect Users

Binance will continue to closely monitor market-making activities and take strong measures against any Market Maker who violates the principles. Binance's goal is to maintain a fair, transparent, and secure trading ecosystem for all users.