Just last month, the encryption KOL "Joe" posted that the XIRTAM project ran away and transferred the raised 1,909 ETH to Binance. The latter has assisted in freezing the funds, and called on the victims to keep the evidence and call the police and contact customer service.

Today, Binance responded to the event that XIRTAM deposited Rug Pull funds into its platform, and stated that they are doing their best to allow victims of the XIRTAM project to be deployed directly from Binance on the Ethereum and Arbitrum networks Claims for losses they have suffered in the smart contract of the company, and plans to have this claim ready as early as today.

Although similar rug incidents emerge in endlessly, it is the first time for users to directly claim for loss of funds. In the past, Binance’s attitude towards rug projects and hacking incidents was mainly based on freezing funds. For example, in November 2019, Upbit lost 342,000 ETHs worth 50 million U.S. dollars in hacking attacks, and then 137 ETHs were transferred to Binance. This response stated that the assets had been frozen and cooperated with UpBit to verify and give feedback to law enforcement agencies, and at the same time transfer funds; on January 16 this year, CZ tweeted that the Binance team had monitored the transfer of funds from Harmony hackers. Harmony hackers had previously Trying to launder money through Binance, Binance has frozen his account. In addition, he also said, "This time he used Huobi. We assisted the Huobi team to freeze his account and recovered a total of 124 bitcoins."

In addition, Binance also has a precedent for helping users recover rug funds. In October 2020, the AMM platform Wine Swap swept away all funds within an hour of the BSC chain going live, causing users to lose more than 345,000 US dollars. Compromised users sent 19 different tokens to Wine Swap from 119 different addresses. After the project ran away, the remaining funds in the contract were transferred to the creator’s address. On the second day after the scam occurred, Binance found the fringe information of the scammer, and after confirming the evidence, contacted the scammer to request the return of the funds, helping the user recover Lost 99.9% of the funds, totaling over $344,000.

Odaily will also continue to pay attention to the progress of the reported incident.