Binance freezes “XIRTAM token scam” funds: Scam Alert

Binance crypto exchange successfully froze 1900 ETH, which was transferred by the XIRTAM token project team. 

Binance is a top-ranked crypto exchange by market cap. The backend team behind this exchange is very big & they always remain ready to take action against illegal or suspicious activity across the platform. 

XIRTAM is a scam meme token project. The backend team raised around $3.5 million (nearly 2000 ETH) from 4000 people via the pre-sale of the token. 

Reportedly the XIRTAM crypto project was also funded by CultDAO and also AscendEX exchange announced listing support for this new token. In short, the back-end project team was clever enough to attract people. 

A crypto Twitter user reported that the XIRTAM team transferred the raised funds to the Binance exchange & urged the Binance team to freeze the funds. 

So far Binance froze the transferred funds but still the crypto community is waiting to see an official response from the Binance exchange or its CEO Changpeng Zhao (CZ). Also, it will be interesting to see how Binance will use these funds to give it back to the investors. 

Binance’s security team is investigating to find the trace of the main culprit behind this scam crypto project. 

Earlier this, the Bitcoinik team reported about another bird concept-based meme coin project, in which a crypto influencer promoted the coin & later deleted his tweets. 

When a crypto investigator disclosed all about Influencer’s illegal activities of a new meme coin scam project, then that crypto influencer claimed that he was hired by an unknown meme coin team to promote the Crypto project but that team also paid nothing to him. 

Read also: BitMEX co-founder again predicts Bitcoin to hit $1M