BlockchainLatest From News

Binance to work along with Fetch.ai to trace hackers

By BFTLR Team

London’s High Court has ordered Binance, one of the world’s largest cryptocurrencies to identify hackers & freeze their accounts after a user became a victim of a $2.6 million hack. High Court had put an order by AI company Fetch.ai for Binance to identify the hackers & seize the assets. Binance routinely freezes accounts that are carrying out any suspicious activities to ensure that users are protected while using the platform. Binance is committed to complying with the local rules & is also expanding its international compliance team & advisory board. Fetch.ai is based in England & Singapore & develops AI projects for blockchain databases. It allegedly claimed that fraudsters hacked their way into cryptocurrency accounts on the Binance exchange. Unable to remove the assets due to certain restrictions they sold them to a third party at a fraction of their value within an hour. The claimants of the funds will have to prove that they are victims of fraud before seeking a recovery order.

Source: Reuters

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button