15.2 C
New York
Monday, September 20, 2021

Buy now

London Court Orders Binance to Track Hackers Behind $ 2.6 Million Fetch.ai Attack

Artificial intelligence research lab Fetch.ai received a request for major crypto exchange Binance to identify the people behind a $ 2.6 million hack.

According to a Reuters report on Friday, the Royal Courts of Justice in London ordered Binance to identify the hackers and seize the stolen assets. Fetch.ai allegedly claimed that hackers stole $ 2.6 million worth of cryptocurrency from its Binance account on June 6 and resold the tokens for a significantly reduced price.

“We need to dispel the myth that crypto assets are anonymous,” said Syedur Rahman, a partner in the Fetch.ai legal team at Rahman Ravelli. “The reality is that with the right rules and applications, they can be traced and recovered.”

Rahman reportedly claimed that Binance is already in the process of tracking the people and that it had frozen some of the affected funds. But nevertheless, the exchange may request evidence from Fetch.ai that your account was hacked before returning the tokens.

Binance has been in the limelight in the UK this year, as local financial institutions announced restrictions on their clients buying cryptocurrencies using the platform.. The UK Financial Conduct Authority ordered Binance Markets Limited to halt “regulated activity” in the country in June. Following that announcement, HSBC suspended credit card payments to Binance, while Barclays blocked customer payments to the exchange.

Cointelegraph contacted Binance, but did not receive a response as of this writing.

Keep reading:

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected


Latest Articles