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At the beginning of May, a project called “XIRTAM” stole funds from investors and transferred a portion of the stolen funds (approximately 1,909 ETH) to a Binance.com account. After freezing the Binance account and the funds deposited into the wallet, preventing the project team from accessing the funds, Binance recently announced the initiation of the refund request process to return the frozen funds to the victims.
Over 1750 Victim Wallet Addresses Identified
Binance, the world’s largest cryptocurrency exchange by volume, has taken action to refund the frozen funds for the victims of the XIRTAM project. Binance’s security team carefully analyzed the project’s activities, including identifying the victims, including net losses. As a result of these efforts, over 1750 victim wallet addresses were identified, and the refund process for these wallet addresses has been initiated.
Cryptocurrency exchange Binance announced that users who participated in a public or private official XIRTAM token sale will have the right to receive a refund. Binance has published a guide for victims to confirm their eligibility for the refund process and request a refund.
However, users who purchased XIRTAM from the secondary market or through a third party will not be eligible for a refund due to the funds they paid for the XIRTAM token sale not being under Binance’s control. The situation of users who participated in an official token sale but were not deemed eligible for a refund according to the refund guide published by Binance is still under review.
Binance Will Not Be Held Liable
While Binance reserves the right to determine the refund process and criteria, including the eligibility of any refund request and the amount to be refunded, it will not be held responsible or liable to any person for any claim, loss, or matter that may arise or be related to XIRTAM’s actions, or any action or inaction taken regarding the refund process.
The major cryptocurrency exchange also allows users with any concerns or issues to submit a request containing detailed information about their investment or loss. Binance will review the requests and provide necessary information.
