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Binance Helps in Returning Investor Funds Lost to Exit Scam

15 October 2020 17:09, UTC
Binance Helps in Returning Investor Funds Lost to Exit Scam
By Anna Martynova

Binance shared how it helped a Chinese investor recover 200,000 yuan ($ 30,000) stolen by a group of scammers. The investor said that he works in the field of finance and has significant experience in the crypto market, but declined to give his name. With the help of Binance officials, the investor managed to fully recover the stolen funds.

It was revealed from a Binance blog post that a man invested in a project that disappeared the next day. Realizing that he was a victim of fraud, the investor decided to look for people who were in the same situation. The investor discovered that the money was transferred to 10 different Binance wallets located in Singapore. After the investor contacted Binance technical support, the stolen funds were blocked.

In addition to this incident, Binance is always trying to help users caught in this kind of scam. The exchange did a similar thing when the cryptocurrency stolen during the attack on Twitter this summer began to come to its wallets.

Image courtesy of Cripto Valuta



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