London court orders Binance to trace cryptocurrency hackers

2021-08-13 Reuters

https://www.reuters.com/technology/london-court-orders-binance-trace-cryptocurrency-hackers-2021-08-13/

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London's High Court ordered Binance to identify the actors behind a $2.6 million Fetch.ai account compromise and freeze assets tied to the alleged fraud. Fetch.ai said attackers gained access to its Binance accounts on June 6 and, because they could not withdraw the assets directly, sold them to a linked third party at a fraction of their value. Binance told Reuters it was helping recover assets and had frozen suspicious accounts under its security policies. The case is notable for using court orders and exchange cooperation to trace and preserve stolen cryptocurrency rather than treating the assets as unrecoverable.

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