#BotOrNot

Binance Cracks Down on GPS Token Manipulation

A market-making entity linked to the GoPlus Security (GPS) token on Binance engaged in manipulative trading, likely using bots.

What Happened?

After Binance listed GPS, the price surged 25% before crashing 60%, raising concerns.

Binance’s investigation found that a firm associated with GPS and MyShell (SHELL) executed large sell orders without matching buy orders—classic bot-driven manipulation.