The Binance platform is currently facing a serious lawsuit related to the theft of 1000 Bitcoin (93 million dollars) from one of its users' accounts.
This case was dismissed in 2023 on the grounds that the platform is outside the jurisdiction of the United States, but the appeals court has revived the case again due to Binance's connection to the jurisdiction in America through the existence of Binance US, as well as the platform's physical presence through its reliance on Amazon's cloud servers (lol).
The person who filed the lawsuit accuses the platform of negligence in protecting his funds and its failure to freeze the assets before the withdrawal resulting from the hacking of his account.
The alarming part of this news is that there are a significant number of lawsuits filed against Binance for the same reason, and this ruling, since the American judicial system is based on common law which relies on legal precedents, will open the door for anyone whose account on Binance has been subjected to theft to sue the platform 👀#BinanceBlockchainWeek #BTC86kJPShock $BTC $ETH $ETH
