Binance has released a refund application form in May that collects the addresses of victims of the XIRTAM project.
XIRTAM victims receive support from Binance
In May 2023, XIRTAM, an Arbitrum-based project, performed a scandalous rug pull operation. The project founder stole 1909 ETH (about $3.5 million) from the project. The project was originally funded by CultDAO. He then collected around 2000 ETH in user deposits. Shortly after this fundraising round, the project founders pulled the invested value from the contract by rug pull.
The XIRTAM incident was unusual as thieves did not use a crypto scrambling service to hide their tracks. Instead, the stolen funds were deposited with Binance, which froze them after the incident was reported to them.
Binance soon froze the funds. However, the community did not receive an official response from CEO Changpeng Zhao (CZ) or the Binance exchange page. Also, XIRTAM users were waiting to see how their funds would be redistributed. In hot development, Binance has released the XIRTAM refund application form to collect the address information of XIRTAM victims.
XIRTAM reimbursement form released
On July 2, Binance released a form to accept refund applications by collecting the addresses of XIRTAM victims. The leading exchange announced that it had received numerous reports of the incident and was fully aware of the seriousness of the problem. An investigation was initiated quickly and necessary actions were taken. Suspected fake funds frozen in Binance accounts. It is important for users to be aware of preventive measures and ensure the security of their assets.
Binance had previously helped victims by temporarily freezing the 1909 ETH funds deposited by the XIRTAM project. Victims are required to contact Binance customer service to report the relevant transaction IDs of the loss of the transaction.
With this move, Binance provides support to users who have been harmed as a result of the fraudulent act known as “rug pull” carried out by the XIRTAM project. This event once again reveals the importance of raising awareness and taking precautions about security in the cryptocurrency community.
Binance is also in warm contact with the Poly Network team
Poly Network has once again fallen victim to a million-dollar hack after 2021 today. Hackers used the Poly Network cross-chain transport protocol to print a reported $34 billion worth of assets across multiple networks.
Commenting on the event, Binance CEO Changpeng Zhao said that the stock market was not affected. This is because it does not support deposits from Poly Network. Still, Zhao said that the Binance security team assisted Poly in his investigation. cryptocoin.com We have included the details of the development in this article.
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