Binance Ends Market-Making for Movement (MOVE) Project

After identifying fraudulent activities related to token trading activities, Binance is taking critical action against market makers linked to campaign (moving) tokens.

The exchange revealed that the market maker in question was associated with another entity previously off-boarded due to fraud.

66 million mobile token sales

The market maker is said to have sold approximately 66 million mobile tokens on December 10, 2024.

This led to a net profit of $38 million USDT before Binance deleted the entity on March 18, 2025.

In response to these findings, Binance notified Movement Network Foundation and Movement Labs of irregularities, frozen revenue generated by market makers, and permanently banned entities from further trading activities on the platform.

Following the Binance investigation, Movement Network has announced a $38 million buyback program. The program uses recovered funds to stabilize ecosystems and restore investor trust.

For the next three months, the tokens repurchased will be placed in the exercise strategy preparation to enhance long-term stability.

Movement Network Response and Buyback Initiative

The Movement Network Foundation claims that it is unaware of the market makers’ actions and is only informed of fraudulent activities by Binance on March 11, 2025.

The foundation was involved with market makers based on previous track record, but acted promptly to cut all ties when it discovered a violation of the agreement.

The company also contacted other major exchanges to inform them of the investigation.

The Foundation is committed to complete transparency. All revenue recovered has been announced to be used to carry out a structured $38 million USDT buyback for Move tokens.

This repurchase will take place only on binance for the next three months, and the repurchase tokens will be transferred regularly to designated on-chain wallets for the Athletic Strategic Reserve.

The foundation emphasized its commitment to maintaining a fair and transparent market while continuing to build a sustainable blockchain ecosystem.

Despite the set-up, the mobile network remains resilient. Blockchain, which allows for the seamless deployment of high-performance MOVEVM rollups interoperable with Ethereum, has attracted strong institutional support.

Investors such as PolyChain Capital and Binance Labs continue to support the network, which boasts a total value lock (TVL) of over $250 million and a market capitalization of $1.1 billion.

The Movement Network Foundation has reassured the community that its vision and technology have not changed.

In particular, following the announcement of Binance, mobile tokens have plummeted over 2.5 hours in the past hour.

Market integrity concerns and broader growth in Binance

The token controversy of movement unfolds amid wider concerns about market integrity in the crypto space.

Binance Wallet recently stopped employees allegedly using the Token Generation Front A Token Generation Event (TGE) using insider information from their previous business development role in the BNB chain.

Employees reportedly leveraged private data to purchase tokens through multiple linked wallets prior to publication, and then sold some for substantial profits.

Binance Wallet revealed that it had no direct connection to the project, highlighting that employee actions violated the company’s policies.

Binance Wallet has committed to working with local authorities of its employees to take legal action based on local regulations.

Meanwhile, Binance has secured a significant $2 billion investment from MGX, an Abu Dhabi-based AI and Advanced Technology Investor.

This development, in particular, demonstrates continued institutional trust in Binance’s long-term vision, despite recent regulatory and operational challenges.

As it is now, movement networks are in the process of buying back tokens, and there may not be a rethink as Binance is still firmly standing on its commitment to enforce transparency and accountability.

Post-Binance has finished market making for the Movement (Move) project, which first appeared on Cryptonews.