Binance creates smart contract to refund users affected by $3M rug pull

Binance froze funds stolen in the Xirtam rug pull after scammers deposited them on the exchange
Binance created a smart contract to refund affected users who connect wallets and pass verification
Xirtam raised $3.2 million in April before owners pulled funds from the project's smart contract
Binance received reports about the Xirtam incident and immediately froze the fraudulent funds
Affected users had to submit recovery applications by August 2nd to be eligible for the Binance refund

cointelegraph.com

Relevant topic timeline:

8/22/2023

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