London High Court Orders Binance, Coinbase, And 4 Other Exchanges To Disclose User Data In $10.7 Million Probe

Binance, Coinbase, Luno, Kraken, and two other exchanges have been ordered by a London high court to share user data to help trace $10.7 million in funds stolen from an unnamed UK-based exchange in 2020.

The other two of the six exchanges involved were not named.

The unnamed exchange has already managed to trace $1.7 million of the funds from the hack.

The amount in question was deposited into 26 accounts on the exchanges in cryptocurrencies including bitcoin, XRP, ether, and tether.

Crypto fraud is on the rise in the U.K. According to police unit Action Fraud, reported cases of crypto fraud increased by a third from Sept. 2021-Sept. 2022.

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