Crypto Exchange Seeks Restraining Order Against Hackers – Law360


Law360 (July 26, 2021, 8:15 PM EDT) — A cryptocurrency exchange has asked a New York federal judge for an order preventing Chinese hackers from making fraudulent transfers, following an attack on the Bitcoin SV network earlier this month.

In a heavily redacted bid Friday for prearbitration injunctive relief, Bitmart owner GBM Global Holdings argued that the funds will be harder to recover once criminals sell the cryptocurrency on the open market to legitimate buyers.

“Defendants are foreign, impossible to identify hackers intent on fraud, there is almost no likelihood that they would pay a damage award,” GBM said. “Short of receiving an injunction of already-identified, fraud-begotten cryptocurrency, there…

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