The High Court of England and Wales has ordered cryptocurrency exchange Binance to identify the hackers who stole $ 2.6 million from Fetch.ai and freeze their accounts. Of course, this amount is much less than the $ 611 million that was recently stolen in the Poly Network hack, but this is one of the first public cases related to Binance. In addition, the UK court must demonstrate its ability to combat fraud on crypto platforms.
In a ruling released this week, a High Court judge granted requests from artificial intelligence firm Fetch.ai to take steps to identify hackers and track and seize assets.
In a statement, Binance representatives confirmed that the firm is partnering with Fetch.ai: We can confirm that we are helping Fetch.ai recover assets. Binance regularly freezes accounts that are identified as having suspicious activity in accordance with our security policies and our commitment to protect users when using our platform.
Binance has already notified Fetch.ai of unusual activity on their account and that the exchange managed to freeze some of the money so that it cannot be stolen, but the hacker still managed to sell part of the currency at a price three times lower than the market price.