US has seized $1.2 billion worth of cryptocurrency stolen from Binance, FBI says
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Key Points:
- The FBI announced it has seized over $1.2 billion in cryptocurrency stolen from Binance, marking a significant recovery from the $6.3 billion theft, the largest crypto heist in history.
- The theft has been attributed to the North Korean hacking group TraderTraitor, with the U.S. government and private sector having frozen more than $2.7 billion of the stolen funds to date.
- The Justice Department has obtained court authorization to seize or restrain more than $1.2 billion of the frozen assets, with a forfeiture claim process pending judicial determination of legitimate ownership.
- Separately, the FBI linked North Korea to a $400 million cryptocurrency theft over 18 months involving a social engineering scheme called FaceStealer, which uses hijacked messaging apps and deepfake videos.
- U.S. officials continue to accuse North Korea of employing cybercrime to fund its regime and illicit weapons programs.
