{"id":23104,"date":"2025-04-16T16:21:31","date_gmt":"2025-04-16T13:21:31","guid":{"rendered":"https:\/\/forklog.com\/en\/movement-network-probes-market-maker-anomaly\/"},"modified":"2025-04-16T16:21:31","modified_gmt":"2025-04-16T13:21:31","slug":"movement-network-probes-market-maker-anomaly","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/movement-network-probes-market-maker-anomaly\/","title":{"rendered":"Movement Network Probes Market Maker ‘Anomaly’"},"content":{"rendered":"

The Movement Network team has launched an investigation after Binance ceased collaboration with an unnamed market maker due to price manipulation of the MOVE token. This was reported by Blockworks<\/a>.<\/p>\n

A representative from Movement Labs confirmed to the publication that a third party has been engaged in the process. In light of this, project co-founder Rushi Manche has taken a “temporary leave.”<\/p>\n

\n

“The Movement Network Foundation is conducting a review following recent market maker anomalies \u2014 a standard practice to ensure full transparency and accountability. It would be inappropriate to speculate on potential outcomes. Operations continue as usual,” the statement reads.<\/p>\n<\/blockquote>\n

In late March, Binance suspended<\/a> the market maker from its platform due to “improper actions” related to the MOVE token.<\/p>\n

According to the statement, the participant sold 66 million coins shortly after their listing, earning a profit of 38 million USDT. The exchange froze these funds and passed the information to the Movement Network Foundation.<\/p>\n

Binance reported that the market maker had previously violated platform standards. Representatives noted that a similar situation had occurred earlier with the GPS and SHELL<\/a> tokens, leading to restricted access to the exchange for the participant on March 9.<\/p>\n

Movement declined to disclose the partner suspected of market abuse. According to well-known on-chain researcher ZachXBT, the entity in question is Web3Port. Journalists noted that the market maker has been regularly active on the crypto project’s social media in recent months.<\/p>\n

Over the past 30 days, MOVE’s price has fallen by nearly 42%. The asset’s market capitalization stands at ~$638 million with an FDV of $2.6 billion.<\/p>\n

\"Movement
Data: CoinGecko<\/a>.<\/figcaption><\/figure>\n

Earlier, experts identified<\/a> insider manipulation as the cause of the recent 90% collapse of the OM token from the RWA project Mantra. The coin lost $5.5 billion in capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Movement Network team has launched an investigation after Binance ceased collaboration with an unnamed market maker due to price manipulation of the MOVE token. This was reported by Blockworks. A representative from Movement Labs confirmed to the publication that a third party has been engaged in the process. In light of this, project co-founder […]<\/p>\n","protected":false},"author":1,"featured_media":23103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1323,596],"class_list":["post-23104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-investigations","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23104"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23103"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}