On the 4th of this month, after Binance launched the Web3 security infrastructure project GoPlus Security (GPS), the GPS token price continued to bottom out, raising market suspicions of market maker misconduct. Subsequently, on the 7th, Binance officially announced that the GPS price drop was due to a market maker selling approximately 70 million tokens.

Regarding this incident, Binance took measures at the time, including delisting the market maker, prohibiting any market-making activities on the Binance platform, and confiscating all related earnings.

Further Reading: GPS Market Maker "Fully Sell Orders" Drops 80% in Three Days! Binance Announces Blockade and Freezing of Improper Earnings: Will Compensate Users

Binance: MOVE Market Maker Maliciously Sells for 38 Million USDT Profit

In this context, Binance issued a new announcement on the afternoon of the 25th, stating that a recent investigation discovered a connection between the market maker of the public chain Movement (MOVE) token and a recently blocked market maker. The announcement provided evidence and handling measures:

[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating to English.]

To fulfill the commitment to transparency and community, 3.8 million USDT recovered from market makers will be used to purchase MOVE on Binance within the next three months. The purchased $MOVE will be periodically transferred to the on-chain wallet of the Movement strategic reserve: 0xA14C8e3eBb2Da43d027dC2c1b763387B9D59cACe. Selling market makers are suspected to be Web3port Additionally, crypto research KOL Jason Chen tweeted that after consolidating information from multiple sources, he can basically confirm that the market maker investigated and banned by Binance is Web3port. It is worth mentioning that previously, GPS and Shell's malicious market makers were also suspected to be Web3port: After summarizing information from multiple sources, it is basically confirmed that the market makers of Goplus, Myshell, and Movement recently investigated by Binance are all the same Web3port. It is shocking that such market makers have the ability to continuously sign so many projects. Moreover, it is even more terrifying that they earned 3.8 million dollars on just one project. Such profitability is too exaggerated... This is just what has been exposed, and how many projects and market makers have not been exposed? The entire crypto market seems to be working for market makers. It feels like Binance is now sharpening its knife against market makers, killing big players and redistributing land. After the Binance announcement, $MOVE price was also stimulated, reporting $0.462 at the time of writing, rising over 7% in the past 24 hours.