London’s High Court orders a major crypto exchange Binance to detect and freeze the accounts of crypto hackers linked to an alleged $ 2.6 million security breach.
The order, announced last week, met the company’s demands for artificial intelligence (AI). Fetch.ai find and freeze stolen assets for Binance.
ABD.AI, claims hackers accessed Binance accounts related to bitcoin (BTC), binance coin (BNB), Tether (USDT) and their own crypto assets on June 6th Us.ai (FET) token etc.
Hackers are reportedly swapping stolen cryptocurrencies for a massive third-party discount.
Judge Pelling QC describes the order in a copy of the case.
“Against those deliberately involved in fraud, a global freezing order is being sought to freeze assets worldwide to enable the claimant to freeze assets, making any court decision effective.”
Sayedur Rahman, partner at Rahman Ravelli law firm Fetch.ai, he tells Reuters the missing assets could be repaid.
“We must dispel the myth that crypto assets are anonymous. The reality is that it can be followed, followed and restored with the right rules and practices.”
A Binance spokesman said the exchange helped recover stolen assets.
“Binance regularly freezes accounts found to have suspicious activity that occur in accordance with our security policy and our commitment to ensuring users are protected when using our platform.”
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