London court orders Binance to trace hackers behind $2.6M Fetch.ai attack
From cointelegraph.com
2021-08-13 17:27:26
Cointelegraph By Turner Wright
Excerpt:
Artificial intelligence research lab Fetch.ai has been granted a request to have major cryptocurrency exchange Binance identify individuals behind a $2.6 million hack.
According to a Friday Reuters report, the Royal Courts of Justice in London has ordered Binance to identify the hackers and seize the stolen assets. Fetch.ai reportedly 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 from Fetch.ai’s legal team at Rahman Ravelli. “The reality is that with the right rules and applications, they can be tracked, traced and recovered.”
Rahman reportedly claimed Binance is already in the process of tracking down the individuals and had frozen some of the affected funds. However, the exchange may request evidence from Fetch.ai that its account was hacked before returning the tokens.
