Crypto exchange Binance has created an automated smart contract to reimburse users affected by the Xirtam rug pull. The exchange had previously frozen the suspected fraudulent funds in their account. Xirtam had raised around 1,909 Ether ($3.2 million) in user deposits in April through a series of funding rounds. However, project owners orchestrated a rug pull that drained all assets from the Xirtam smart contract. All the funds were directly deposited into Binance, prompting the exchange to freeze the stolen assets on May 4.In order to receive their money, users must connect their wallets to Etherscan, pass a verification check, and call the claim function through the contract address. Those who submitted their applications by Aug. 2 are eligible for recovery. It is important to be aware of the risks associated with investing in cryptocurrency and to take the necessary precautions to protect your funds. Bitcoin OGs and experts have weighed in on the best ways to protect your crypto in a volatile market.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	9
People	None
Companies	Etherscan, Binance, AlienFi, Fjord Foundry, SushiSwap
Currencies	fjord foundry., Lido Staked Ether, Ethereum, Bitcoin, ITAM Games
Securities	None