The London High Court has ordered the world’s largest cryptocurrency exchange, Binance, to trace hackers who stole $2.6 million from Fetch.ai – an artificial intelligence company. The company lost these assets from its Binance accounts in a hack back in June 6 and is seeking legal assistance on identifying the perpetrators of the attack and recovering the stolen funds.

Following the attack, hackers were unable to remove the digital assets due to account restrictions, but ended up selling the loot to a third party at a fraction of their cost. The attack and the subsequent sell-off of the assets stolen was completed in a span of less than one hour.

This case will be closely watched as its outcome can have implications in going against the myth that transactions in the crypto space are completely anonymous and untraceable. It is also one of the first public legal issues Binance is facing at a time when the exchange as well as the sector have been coming under increasing regulatory scrutiny.

On its part, Binance has officially confirmed that it is cooperating with Fetch.ai to help recover its lost assets. According to a spokesperson for the exchange, “Binance routinely freezes accounts that are identified as having suspicious activity occurring in line with our security policies and commitment to ensuring that users are protected while using our platform.”