- Binance has begun the process of refunding the frozen funds of victims of the XIRTAM project.
- The exchange’s security team has identified over 1,750 victim wallet addresses.
- Users who participated in the official XIRTAM token sale will be eligible for a refund.
Binance, the world’s largest cryptocurrency exchange, is taking steps to refund the victims of the XIRTAM project, having identified over 1,750 victim wallet addresses. Those who participated in the official XIRTAM token sale will be eligible for a refund.
Over 1,750 Victim Wallet Addresses Identified
Binance, known for its high trading volume and standing as the world’s largest cryptocurrency exchange, has sprung into action to refund the victims of the XIRTAM project. The exchange’s security team meticulously analyzed the project’s activities to facilitate the refund of the frozen funds, identifying over 1,750 victim wallet addresses in the process. The refund process for these addresses has now been initiated.
According to the announcement made by the crypto exchange, users who participated in a public or private official XIRTAM token sale will be eligible for a refund. Binance has published a guide to help victims confirm their eligibility and request a refund.
Secondary Market Purchasers Ineligible for Refund
However, users who purchased XIRTAM from the secondary market or through a third party will not be eligible for a refund, as the funds they paid for the XIRTAM token sale are not under Binance’s control. Investigations are ongoing for users who participated in an official token sale but are not shown as eligible for a refund in the guide published by Binance.
Binance Retains Discretion Over Refund Process
Binance reserves the right to determine the refund process and criteria, the eligibility of any refund request, and the amount to be refunded. The exchange will not be liable or obligated to any person for any claim, loss, or issue arising from or related to XIRTAM’s actions and the refund process, including but not limited to the determination of a refund request’s eligibility or the amount to be refunded.
The leading crypto exchange has also opened the door for users with any issues or concerns to send a request containing detailed information about their investment or loss. Binance will review the situation of users who submit a request and provide the necessary information.
Conclusion
In conclusion, Binance’s initiative to refund the victims of the XIRTAM project demonstrates the exchange’s commitment to protecting its users. While the refund process is complex and certain users may not be eligible for a refund, Binance’s transparent and proactive approach is a positive step towards resolving this unfortunate situation.
