Fisco sues Binance over alleged role in Bitcoin laundering

The Japanese cryptocurrency exchange Fisco has accused Binance of inaction in laundering assets stolen in 2018 from the Zaif exchange. The suit подан in the U.S. District Court for the Northern District of California.

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Fisco says the attackers laundered 1,451 BTC through Binance, allegedly helped by the platform’s lax KYC/AML measures that \”do not meet industry standards\”.

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\”Shortly after the hack, Zaif representatives asked Binance to freeze accounts linked to the stolen bitcoins. But the exchange took no action,\” the lawsuit states.

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Fisco asks the court to order the defendant to pay more than $9 million and \”a fair compensation for the time and money spent locating the property\”.

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In September 2018, unknown hackers breached the Zaif exchange. It took four days for the issue to be detected.

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Shortly after the incident, Zaif was acquired by an investment company, Fisco. It promised to compensate users of the platform.

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In September 2020, the Slovak bitcoin exchange Eterbase was hacked. According to representatives of the platform, the attackers transferred most of the stolen cryptocurrency to Binance, Huobi and HitBTC.

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