UK Court Grants Fetch.ai’s Request to Order Binance to Track Hackers

Fazzaco recently learned that the High Court in the city of London has ordered global cryptocurrency exchange Binance to identify and track hackers who stole Fetch.ai’s cryptocurrencies, as well as freeze their accounts.

Wanna be the Next Cover Person of Fazzaco Magazine?

The order comes after that Fetch.ai, a Cambridge-based AI company, claimed to loss $2.6 million in cryptocurrencies as hackers accessed its Binance accounts and sold the tokens on June 6 to a linked account for a fraction of their value.

“We can confirm that we are helping Fetch.ai in the recovery of assets,”a Binance spokesperson said”Binance routinely freezes accounts that are identified as having suspicious activity occurring in line with our security policies and commitment to ensuring that users are protected while using our platform.”

“We have been working closely with Binance and local enforcement to obtain details about the hacker,”Fetch.ai said.”Issuing a court order for the release of this information is a standard process.”

A growing list of regulators worldwide have issued warnings against Binance. The company says that it is taking active steps to be more compliant with local regulations everywhere. Last week, the exchange announced that it has terminated almost all the local services in Malaysia and South Korea.​