London High Court Orders Binance To Hunt Down And Seize Assets of Crypto Hackers


A London High court has ordered the largest cryptocurrency exchange, Binance, to hunt down and freeze the accounts of crypto hackers. This is over an alleged security breach that caused the loss of slightly over $2million worth of assets.

Judge Pelling QC, who gave the order describes in a transcript of the court proceedings, stating.

A worldwide freezing order is sought against those who were knowingly involved in the fraud for the purposes of freezing their assets worldwide, in order to ensure to the best that can be achieved that the claimant is able to freeze assets, which will enable any judgment of the court to have real effect.

The last week’s order allows, a Cambridge-based Artificial Intelligence lab, to find and freeze the stolen assets. According to, the hackers obtained access to its Binance accounts that had several crypto assets.

These assets include Bitcoin (BTC), Binance coin (BNB), Tether (USDT), and its token. Allegedly, the crypto hackers traded the stolen cryptocurrencies at a massive discount to an unknown third party.

One of Rahman Ravelli’s law firm partners. Syedur Rahman, representing, told Reuters that people should dispel the myth that crypto assets are anonymous. Therefore, you can track, trace, and recover the missing assets.

A Binance spokesperson says that the exchange is aiding in the recovery of the stolen assets.

Binance routinely freezes accounts that they identify as suspicious activity occurring in line with our security policies and commitment to ensuring protection of users while using our platform.”

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