Thursday, September 23, 2021
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Court orders aid for Fetch.ai from Binance




The blockchain project Fetch.ai, which specializes in artificial intelligence (AI), has won in court that the large crypto exchange Binance must help it find the people behind the $ 2.6 million hacker attack.

As Reuters reported on Friday, the Supreme Court of England ruled that Binance must disclose who the attackers were. Fetch.ai was stolen $ 2.6 million in crypto funds from its Binance accounts on June 6, which were resold for a far lower sum.

“We want to refute the myth that crypto funds are anonymous,” commented Fetch.ai attorney Syedur Rahman. He adds: “The truth is, we have the appropriate laws and legal remedies to prosecute them and get them back.”




According to Rahman, Binance is already doing the follow-up and has frozen some of the funds in question. However, Fetch.ai’s crypto exchange could demand clear evidence of the hack before it is returned.

“We can confirm that we are helping Fetch.ai to retrieve the funds,” a Binance spokesman told Cointelegraph. And further: “Binance is freezing accounts that engage in suspicious activities anyway in order to protect the users of our platform.”

Binance itself has come into the crosshairs of the British authorities again this year, which is why the British financial regulator has ordered that the crypto exchange must cease its business operations. HSBC then stopped all credit card payments to the crypto company, while Barclays also blocked all payments.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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