• Binance recovers Wine Swap funds
    Cryptocurrencies

    Binance recovers Wine Swap exit scam’s proceeds

    The exchange identified and contacted the scammer the day after he stole more than $345,000, forcing him to return the funds

    A Binance spokesperson said on Nov. 4 that the exchange had recovered 99.9% of the funds stolen in the exit scam conducted by automated market maker Wine Swap. Wine Swap launched on the Binance Smart Chain (BSC) on Oct. 13 as an automated market maker platform. In under one hour after its launch, the developers stole over $345,000 in customer funds.