Binance: Delists GPS and SHELL Market Makers for Misconduct, Seizes Related Benefits

2025-03-09 18:03

BlockBeats News, March 9th, according to an announcement by Binance, Binance has discovered in an investigation of a market maker for GoPlus Security (GPS) that the same market maker was also responsible for market-making activities for the MyShell (SHELL) project.

In order to better protect Binance users, regarding the improper behavior of this market maker, Binance has taken the following additional measures:

1. The market maker has been delisted and prohibited from conducting any further market-making activities on Binance.

2. The market maker's related earnings have been confiscated and will be used to compensate users of GPS and the SHELL project (detailed compensation plans will be decided by the respective project teams and announced).

In a previous announcement, Binance stated that a certain GPS market maker only sold without buying within 21 hours, selling off 70 million GPS and profiting 5 million US dollars.

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