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VI Six exchanges including Binance, Coinbase, Luno and Kraken was ordered by a London court to share data to assist in the investigation of $10.7 million stolen from an exchange crypto UK in 2020.
According to the report of Financial Times, two of the six exchanges involved have not been named. And the UK-based exchange that was hacked will remain anonymous to avoid revealing information to detect hackers. The exchange is also managing 1.7 million USD traced out from the case hack.
Back at the time of the attack, the hackers dispersed the amount 10.7 million USD steal in 26 accounts on exchanges cryptocurrency, in the form of various coins including BTC, XRP, ETH and USDT.
Accordingly, the exchange of data will speed up the process of identifying hackers. The reason is that large exchanges often perform the steps KYC rigorous, including ID verification as well as biometrics. At the same time, exchanges are also required to transfer data unrelated to the hack.
Also follow Financial Times, This is one of the first applications of the new law to be popularized in the UK. The law allows for asset tracking in cases of internet fraud, even if the parties holding the information are based abroad.
In October 2020, Coinbase informed UK users that they would share their data with Revenue and Customs (HMRC) if they received more than £5,000. cryptocurrency in the tax year 2019/2020.
