Binance is Tracing the Squid Game Scammers To Help the Authorities

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After taking $3 million from the investors, the Squid Game scammers disappeared, but Binance wants to find them and bring them to trial. 

The genius behind the Squid rug pull is possibly enjoying the good life and doing a party after taking $3 million. However, Binance is taking every step to make sure the Squid Games scammers’ ‘after scam party’ may end soon.

The largest cryptocurrency platform Binance has taken the initiative to track the scammers. An intelligence team of Binance is checking the blockchain and collecting the information to give to the authorities.

Binance Wants Squid Game Scammers to Pay!

Binance representatives stated that these scamming strategies have become quite common in the ecological cryptosystem. They also stated that they are working to track the funds. They want to provide the authorities with as many leads as possible so they can identify those squid game scammers.

Binance is black-listing addresses associated with the developers and utilising blockchain analytics to identify these bad actors.

Moreover, this platform also explains that these fraudsters used the cryptocurrency mixing service ‘Tornado Cash’ to obscure their identities. 

Tornado Cash is a decentralised transaction anonymisation service that runs on Ethereum. The users here send the tokens, and the platform conducts different internal transactions. They take this measure to prevent the funds of people.

In addition, the Tornado Cash developers have not talked on their Social Media about Binance’s allegation on their platform that it’s used by criminals. Likewise, Binance did not reveal whether it is working with any specific agency. However, they assured that they would hand over the information to the ‘appropriate authorities about Squid Game Scammers.

In conclusion, Binance has a history of fighting crime. In June 2021, they also helped the higher authorities in catching the criminal gang named FANCYCAT.

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