Movement: A $38 million MOVE buyback program will be carried out on Binance within three months, and the market makers who sold a large number of tokens after TGE have been cut off.

According to PANews on March 25, the Movement Network Foundation issued a statement saying that it received a notice from Binance on March 11 that a market maker was suspected of improper operations on multiple tokens including $MOVE. The market maker sold a large number of tokens after the $MOVE TGE, violating its agreement to provide two-way liquidity support. The Foundation was unaware of this and immediately cut off its relationship with it after learning about it, notified other exchanges and assisted Binance in its investigation.

Movement Network said that it has recovered the relevant funds and plans to use the recovered $38 million to repurchase $MOVE on the open market to establish the "Movement Strategic Reserve" strategic reserve fund. The repurchase will be carried out on Binance in the next three months, and the purchased $MOVE will be regularly transferred to the official on-chain wallet 0xA14C8e3eBb2Da43d027dC2c1b763387B9D59cACe.