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Crypto exchange Binance has developed an automated smart contract to reimburse users following the Xirtam rug pull incident.
As per a Sept. 6 announcement, users impacted by the Xirtam rug pull can reclaim their funds by linking their wallets to Etherscan, completing a verification process, and invoking the claim function via the contract address. To qualify for recovery, users must have submitted their applications by Aug. 2. The exchange previously stated:
“We have received multiple reports regarding XIRTAM incidents and are fully cognizant of the gravity of the situation,” the exchange previously stated, adding that:
“An investigation has commenced, and immediate action has been taken. The suspected fraudulent funds have been frozen in the Binance account. We appreciate your patience and understanding as we work to address this matter.”
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Arbitrum-based Xirtam raised approximately 1,909 Ether ($3.2 million) in user deposits in April through a series of funding rounds. This includes two direct initial coin offerings and two community sales via the Fjord Foundry liquidity bootstrapping pools and SushiSwap liquidity pools.
In one case, a planned Xirtam token initial airdrop offering (IAO) was canceled by the Arbitrum-based decentralized exchange (DEX) AlienFi after uncovering an undisclosed Xirtam seed sale at a price significantly lower than the agreed amount. The IAO was called off just five minutes prior to its scheduled start.
Shortly after securing capital, project owners executed a rug pull that depleted all assets from the Xirtam smart contract. However, all funds were directly deposited into Binance, leading the exchange to freeze the stolen assets on May 4. No mixer or bridging service was utilized to launder the funds before their deposit into Binance.
关于XIRTAM相关事项的更新
感谢大家对XIRTAM资产返回进度的关注，目前相关资产已经打到智能合约，您可以通过XIRTAM退款指南查看Claim合约的信息，并根据指南操作和检查相关信息。
如有任何问题，可以在该指南的最后填写信息申诉。
操作指南：https://t.co/8jJTBFzr0f…— 币安Binance中文｜币安推出跟单功能 (@binancezh) September 6, 2023
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