GoPlus Security Scrambles to Address GPS Token’s 60% Plunge Amid Binance Market Maker Controversy

In a dramatic turn of events, GoPlus Security, a Web3 security firm touting itself as the pioneer of a decentralized security layer, is reeling after its native GPS token plummeted 60% in a single day. The steep decline, which unfolded shortly after its Binance listing on March 4, 2025, has sparked a flurry of speculation and finger-pointing, with Binance attributing the chaos to questionable market maker behavior.

GoPlus Security swiftly launched an investigation, emphasizing that it was blindsided by the listing announcement. “Our team only learned of it when the public did,” the firm stated in a March 7 X thread, refuting rumors of insider dumping. The company has since partnered with Binance to uncover the root cause, promising transparency as the probe unfolds. Meanwhile, Binance slapped a Monitoring Tag on GPS, citing “significant price drops and certain market-making activities.” Reports indicate a market maker dumped 70 million GPS tokens between March 4 and 5, pocketing roughly 5 million USDT—a move that has fueled outrage across the crypto community.

The listing itself was high-profile, accompanied by a 300-million-token airdrop for BNB holders, part of Binance’s HODLer program. An additional 200 million tokens were earmarked for future marketing, amplifying expectations. Yet, the swift crash has cast a shadow over GoPlus’s credibility, despite its claims of enhancing Web3 safety through real-time audits and decentralized solutions.

As the dust settles, investors are left questioning the stability of emerging tokens in volatile markets. GoPlus has vowed to provide updates, but for now, the GPS saga underscores the high-stakes risks of crypto’s Wild West. Will this be a lesson in resilience or a cautionary tale? Only time will tell.

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