Odaily News: Regarding the recent decline in token prices listed on Binance, He Yi responded that the market conditions are sluggish, and both small and large tokens listed recently have been falling. The prices of most altcoins in the market have dropped by 80% to 90%, including all highly anticipated projects. The first transaction price for the MAV token is set at 0.05 USDT, taking into account the tepid market conditions. He urges users not to blindly follow community recommendations and chase after high prices. Based on the historical performance of previous IEOs within the same cycle, achieving a 10x or 20x return is not in line with the current market situation. Users should do their own research (DYOR). Binance has listed hundreds of tokens, but the token prices are not controlled by Binance. Prices are influenced by the buying and selling activities of both parties. Please be aware of the investment risks.



In addition, regarding the progress of compensating users' funds transferred to Binance for the Rug Pull project XIRTAM, He Yi stated that they will handle it according to legal advice. Currently, the project team and Level 1 and Level 2 investors have different opinions. Users should make their own judgment when participating in on-chain activities, and no one should bear the responsibility for individual mistakes. If this case is not handled properly, there will be no further actions taken for Rug projects.



According to previous reports, the Rug Pull project XIRTAM transferred 1909 ETH to Binance, and Binance has assisted in freezing the funds. On June 20th, according to community sources, Binance responded to the incident where XIRTAM deposited Rug Pull funds into Binance, stating that they are "working to allow victims of the XIRTAM project to directly claim their losses from the smart contracts deployed on the Ethereum and Arbitrum networks on Binance. Binance hopes to have this initiative ready as early as today. During this time, Binance thanks users for their patience and understanding. Please continue to follow announcements for further updates."