British court orders Binance to identify alleged crypto hackers

London the High Court has ordered Binance, the world’s largest crypto exchange, to identify and freeze the accounts of hackers linked to an alleged $ 2.6 million heist on its platform.

The order follows the request of a crypto company called Fetch.ai Binance said its accounts were seized in June. Minutes, according to the transcript of the hearing geçti.aı, it claims that the hackers used several cryptocurrencies: Tether, Binance Coin, bitcoin and a few more minutes.AI has his own token.

The transcript is dated July 15, but was printed this week.

Press Secretary Fetch.ai decrypt said monitoring work was already underway and the company was “working closely with Binance.””Binance confirmed its involvement in a statement to Reuters.

Binance is a central exchange, meaning it stores the private keys to its accounts and has the right to freeze or halt transactions. Privacy advocates tend to favor decentralized exchanges and unregistered wallets that allow traders to keep their own keys.

UK Supreme Court’s $ 1m hacking ruling means bitcoin “owns”

In 2019, the Supreme Court ruled that bitcoin could legally be considered “property,” paving the way for claims. Fetch.ai however, UK courts relatively rarely resort to such deliberate monitoring.

And while Binance can freeze certain accounts, Fetch.ai he will have to prove he was a victim of fraud before going to court to get the money back.

More Information

Join the Discussion

  • BrokerEUR/USD
    Core Spreads 0.6pips (variable) margin: 3.33%
    InterTrader 0.6pips (fixed) margin: 3.33%
  • Back to top