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Binance Helps Victims Of Cybercrimes Regain Lost Funds Amid Increasing Number Of Scams
Summary: Binance wrote in a blog post this morning that it had recently helped a crypto user recover 200,000 yuan, worth approximately $30,000, after the user was a victim of a cybercrime. The scammers responsible for the crime, advertising a liquidity mining project with high interest rates, collected the yuan and sent them fraudulently to 10 ...
Binance wrote in a blog post this morning that it had recently helped a crypto user recover 200,000 yuan, worth approximately $30,000, after the user was a victim of a cybercrime. The scammers responsible for the crime, advertising a liquidity mining project with high interest rates, collected the yuan and sent them fraudulently to 10 Binance addresses. Upon learning of the fraud, Binance immediately locked the addresses and aided the scammed user in getting the funds back.
The scam comes after Binance successfully exposed a cybercrime group that had laundered $42 million earlier in 2020. That crime and the one described this morning reflect Binance's claim that financial losses as a result of cybercrimes have increased by 72% over the past five years. This increase in cybercrime-induced losses may be a result of yield farming's increasing popularity.
By Isaac Goluboff
Tags: Binance,Cybercrime,Yield Farming,Yuan
Link: Binance Helps Victims Of Cybercrimes Regain Lost Funds Amid Increasing Number Of Scams [Copy]
