Binance to Compensate Affected $GPS and $SHELL Holders Following Market Manipulation Incident

Binance has concluded a thorough investigation into market manipulation allegations involving a market maker connected to the GoPlus Security (GPS) and MyShell (SHELL) projects. The investigation revealed that the market maker was simultaneously engaged in market-making activities for both GPS and SHELL, violating Binance's policies.

*Key Actions Taken:*

- *Permanent Ban*: The market maker has been permanently banned from participating in any future market-making activities on Binance.

- *Seizure of Illicit Proceeds*: Binance has seized the market maker's illicit proceeds, which will be used to compensate affected GPS and SHELL holders.

- *Compensation Plan*: Binance will soon release a detailed compensation plan for affected users.

Binance remains committed to maintaining a secure, trustworthy, and fair trading environment. The platform continues to prioritize transparency and user protection, ensuring that incidents like this are addressed promptly and effectively.$SHELL