Binance Help $3 million Rug Pull Victims

09/07/2023

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Xirtam scammers transferred stolen funds to a major cryptocurrency exchange. Binance took action by blocking their funds.

Binance has also launched a smart contract to give victims their funds back. In order to receive it, they must connect their wallets to Etherscan, complete verification and claim their funds.

Exchange managers stressed the issue's urgency and the importance of resolving it. Therefore, immediate action was taken, and an investigation was initiated.

Xirtam, based on the Arbitrum network, fraudulently lured users and their funds to the platform through financing rounds and ICOs back in April. In total, the platform raised 1,909 ETH (or $3.2 million). After attracting funds, scammers pulled off a scheme known as a rug pull. All user funds were withdrawn from the Xirtam smart contract to the Binance. On 4 May, the exchange froze the incoming assets.

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