Binance's market surveillance team, hired to prevent manipulative trading, found that VIP customers like DWF Labs engaged in pump-and-dump schemes and wash trading. The team also discovered that Binance maintained secret internal trading accounts. After these findings, Binance fired the investigator and kept DWF Labs as a client. The SEC has accused Binance of misleading U.S. investors about its risk controls.
Friday, May 10, 2024Binance has denied recent allegations of market manipulation by DWF Labs, which resurfaced following reports of $300 million worth of wash trading in 2023.