A London court ordered one of the largest cryptocurrency exchanges, Binance, to track the accounts of hackers who stole $ 2.6 million from artificial intelligence company Fetch.ai. This decision was made after considering the application of Fetch.ai, which demanded to block the accounts of hackers and withdraw the funds stored on them.
Despite the relatively small amount, this trial is one of the first with the participation of the Binance exchange. In addition, this case will test the ability of the English judicial system to combat fraud on cryptocurrency platforms.
“We can confirm that we are helping Fetch.ai recover lost assets. Binance regularly blocks accounts for suspicious activity in accordance with our security policies and commitment to protect users when interacting with our platform, ”Binance said in a posting.
Recently, Binanace, which has an opaque corporate structure, has faced scrutiny by regulators amid the suppression of cryptocurrencies in some countries around the world. This is due to the fears of the authorities about the fact that cryptocurrency exchanges can be used for money laundering, financial fraud and conducting various kinds of illegal activities.
In response to this, Binance has repeatedly declared its commitment to comply with the rules established in the countries of the platform’s presence. To this end, Binance has expanded the size of its Compliance and Regulatory Division.