Bimance has decided to pay back the victims of the XIRTAM scam project. This is good news for those who invested in the token sale, but other investors will have to wait.
The XIRTAM Scam Fund
In early May 2023, a scam project called "XIRTAM" surfaced that deposited 1,909 ETH stolen from its investors into a Binance account. Binance froze that account and began analysing the activities to identify the victims in early July. Binance has identified over 1,750 victim ETH addresses.
Payback to Victims
Now Binance has started the process of returning their money to the victims of XIRTAM. Since Binance has identified the project team's token sale investors, only those token sale investors will be refunded thefrozen 1,909 ETH to compensate for their net losses. Binance does not have any plans for other investors right now.
Binanceian is Eligible
Binance will not be issuing these refunds directly to victim addresses; they are likely limited to Binance consumers only, as victims will have to confirm their eligibility. Of course, only claims from KYC users will be considered, meaning there will be no privacy. At present, a guide has been issued for claiming consumers in English and Chinese.
