UK court orders Binance to identify and freeze hacker accounts after user stole money

A UK judge has reportedly ordered Binance’s cryptocurrency exchange to identify hackers and freeze its accounts after one of the users claimed to be the victim of a $ 2.6 million hack.

Binance ordered to help repay funds allegedly stolen as a result of hacking
London’s High Court has ordered Binance’s global cryptocurrency exchange to identify hackers and freeze users ‘ accounts.. Fetch.ai Reuters reported on Friday that he claimed to be the victim of a $ 2.6 million hack.

A judge has accepted requests from the artificial intelligence (AI) company at Binance to identify hackers and track and confiscate allegedly stolen assets, he said in a ruling announced this week.

Fetch.ai registered in the UK and Singapore, AI develops projects for blockchain databases. The company claimed the Binance account was hacked on June 6. “Unable to remove assets due to account restrictions, they were reportedly sold to a linked third party for a fraction of their value in less than an hour,” the news release said.”

A Binance spokesman said: “We can confirm that we are helping Fetch.ai in asset return” detail:

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.

Sayedur Rahman, partner of Rahman Ravelli Fetch.ai, he told Reuters that Binance had informed his client of the unusual activity in his account and had already frozen the amount. Rahman believes Binance should carry out court rulings.:

We need to dispel the myth that crypto pools are anonymous. The reality is that when the right rules and practices are available, they can be followed, followed and restored.

A growing list of regulators around the world have issued warnings against Binance, including the UK Financial Conduct Authority (FCA). UK regulator issued warning to consumers in June

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