According to sources cited by The Wall Street Journal, Binance's surveillance team found evidence of market manipulation by market maker DWF Labs, but the cryptocurrency exchange's management ignored it. DWF Labs' fictitious trading was discovered during an internal investigation using Binance's software tools. When the evidence was presented to the management of the exchange, they fired the head of the supervisory service. 

Sources claim that Binance neglected and ignored evidence of market manipulation, specifically related to inflated trading volumes of the YGG token and at least six other coins, which allegedly brought the company more than $300 million. DWF Labs denied the accusations, stating they are unfounded and distort the facts. As per the sources, Binance fired the head of the supervisory service after the findings. 

DWF Labs called the accusations unfounded and distorting the facts.