London court orders Binance to track down the proponents of the hacker attack against Fetch.ai

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Artificial intelligence research lab Fetch.ai asked cryptocurrency exchange Binance to identify the individuals behind a $ 2.6 million hacker attack.

According to a Reuters article, London’s Royal Courts of Justice ordered Binance to identify hackers and seize stolen assets. Fetch.ai claims that, on June 6, the criminals stole $ 2.6 million in cryptocurrency from its Binance account, then reselling the assets at a significantly reduced price.

Syedur Rahman, partner of Fetch.ai at Rahman Ravelli law firm, said:

“We need to dispel the myth that crypto assets are anonymous. In fact, with the right rules and applications, they can be tracked, identified and recovered.”

Rahman said Binance is already in the process of tracking down the criminals and has frozen some of the affected funds. However, the exchange may ask Fetch.ai for proof that the account was indeed hacked before returning the funds.

We can confirm that we are helping Fetch.ai in asset recovery“, a Binance spokesperson told Cointelegraph:

“Binance regularly freezes accounts identified as suspicious, in line with our security policies and our commitment to ensure that users are protected while using our platform.”

Binance has often found itself at the center of attention in the UK this year, so much so that some local financial institutions have announced restrictions for customers who purchase cryptocurrencies through the platform.

In June, the UK’s Financial Conduct Authority ordered Binance Markets Limited to cease all regulated activities in the country. Following the news, UK banks HSBC and Barclays suspended customer payments to the exchange.

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