Lawsuit Alleges Binance Processed $9.4 Million of Stolen Funds

[MRM]

A Japanese crypto exchange alleges Binance allowed hackers to cash out over $9.4 million in stolen funds due to lax KYC policies. Japanese crypto exchange Fisco has alleged crypto exchange Binance failed to control the cashout of over $9.4 million in illicit funds tied to a 2018 hack, according to a complaint filed in the Northern California District Court on September 14.

Then known as “Zaif”—before a $44 million takeover by Fisco in 2019—the crypto exchange was targeted by hackers in September 2018 who made away with $63 million worth of Bitcoin, Bitcoin Cash, and Monacoin.
Source: https://decrypt.co/41820/lawsuit-alleges-binance-processed-9-4-million-of-stolen-funds