Binance has taken decisive measures against internal misconduct and market anomalies associated with the Movement’s MOVE token.
The exchange has suspended one of its employees for insider trading and penalized a market maker engaged in manipulative trading activities.
Insider Trading
On March 25, Binance Wallet announced the suspension of an employee who participated in front-running trades using confidential information.
This individual previously worked in business development at BNB Chain, which provided access to sensitive information, including upcoming token releases.
According to Binance, the employee was aware of a project getting ready for its Token Generation Event (TGE).
With this insider knowledge, the individual acquired a substantial number of tokens using multiple wallet addresses. After the launch, they sold some tokens to realize quick profits while retaining a significant amount with unrealized gains.
In response, Binance suspended the employee and initiated a formal disciplinary procedure. The exchange also confirmed its intention to collaborate with authorities for potential legal repercussions.
Furthermore, Binance reiterated its strict zero-tolerance policy towards misconduct. The platform stated it is enhancing internal monitoring and updating its policies to prevent future occurrences of similar behavior.
Members of the public are encouraged to report unethical activities via the whistleblower portal. As part of this initiative, the company will distribute rewards totaling $100,000 to four whistleblowers who submit credible reports regarding this matter.
Market Manipulation
Binance also identified irregular trading patterns involving an anonymous market maker connected to the MOVE token.
This market maker, now banned, was observed dumping approximately 66 million MOVE tokens on December 10, 2024—just one day after the token’s launch—while making very few or no buy orders.
By the time the account was removed from the platform on March 18, 2025, it had amassed around $38 million in profits. Binance has since frozen these earnings and prohibited the market maker from any further activities on the platform.
Binance informed Movement Labs and the Movement Foundation, both of which were unaware of the misconduct. Upon learning of the situation, the project severed ties with the implicated entity and promised to reimburse affected users.
In a move to rectify the situation, the Movement Network will repurchase MOVE tokens using the $38 million that has been recovered. This buyback is set to take place over the next three months on Binance, with the repurchased tokens being transferred to the Movement Strategic Reserve.
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