GoPlus Security, an active company in web3 security, has initiated extensive research after a 60% drop in the value of GPS token in a day. The company, which operates in developing the first decentralized security layer, stated on social network X (formerly Twitter) on March 7 that it was unaware of its token release on Binance until the public announcement on March 4. GoPlus Security, refuting rumors of internal dump, has assembled a specialized team to investigate the reasons behind this severe price fluctuation. According to the company, on the release day, 500 million GPS tokens were transferred to Binance, with 300 million distributed as rewards in BNB HODLer program. On the other hand, Binance has announced an extension of the regulatory label on this token due to the significant price drop post-release and unusual behavior of one of the GPS market makers.
