November 4, 2020 Binance recovers $344K from Wine Swap scam.

Binance announced today that it has recover $344K stolen in an exit scam related to Wine Swap, a DeFi application hosted on Binance Smart Chain in October. An hour after going live, the platform’s operators allegedly drained the $344K raised prior to launch and deactivated the application. The stolen funds were converted from BNB, ETH, and LINK to stablecoins on various exchanges before being recovered.