Binance Freezes $38M Market Maker Profits

Binance Freezes $38 Million in Market Maker’s Assets After MOVE Token Dump

• Binance banned a market maker for irregularities related to the Ethereum-based project Movement (MOVE).
• The market maker sold approximately 66 million MOVE tokens on December 10th.
• A profit of $38 million in USDT was made by the market maker before being offboarded.
• Binance froze the proceeds to compensate affected users.
• The banned entity was linked to another previously banned market maker.

Binance has taken action against a market maker involved with Movement (MOVE) by freezing $38 million in profits after the sale of around 66 million tokens, ensuring user compensation. The entity was also connected to a previously banned group.