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Binance ordered to investigate $2.6million Fetch.ai Attack

Royal London court has ordered Binance the go ahead to investigate and trace the individual involved in the $2.6 million attack on the Fetch.ai research lab.

According to reports the Royal London court gave Binance the green light to help investigate and retrieve the funds reported stolen by Fetch.ai research lab and should also identify the individuals involved in the heist on june 6.

Rahman Ravelli, a senior partner with Fetch.ai addressing the press, stated how the hackers accessed the company Binance account to make do with the tokens which was later sold for a significantly low price and Binance with the right applications and methods are capable of recovering the stolen funds. The legal team of Fetch.ai in collaboration with the UK Binance team are charged to help resolve the situation.

A Binance spokesman confirms the reports about helping Fetch.ai to recover their stolen funds. “Binance are currently freezing accounts of users with suspicious activities in their wallets incurring in line with our security policies to ensure adequate protection for users across the globe.”

Binance in recent times has been the centre of attraction across the globe, UK local financial institutions ban their customers from buying crypto assets using the Binance platform. The U.K. Financial Conduct Authority requested Binance exchange to ban “regulated activity” in the country in June. After the announcement, HSBC halted all credit card transactions with Binance, while Barclays suspended her customer from making payment to Binance exchange.
Upon many more restrictions and bans for selling tokenized Stocks which the Financial Conduct Authority felt didn’t have the license to trade the tokenized stocks.

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