U.S. Seizes $1.2 Billion in Binance Crypto Theft, as $2.7 Billion Is Frozen
Updated
Updated · CNBC · Nov 13
U.S. Seizes $1.2 Billion in Binance Crypto Theft, as $2.7 Billion Is Frozen
3 articles · Updated · CNBC · Nov 13
Summary
$1.2 billion in cryptocurrency stolen from Binance on Oct. 29 has been seized by U.S. authorities under a court-authorized action, the Justice Department said.
The seizure is part of a broader effort that has already frozen more than $2.7 billion of the over $6 billion taken in the hack, which the FBI attributes to North Korean military-linked actors known as TraderTraitor.
DOJ said the assets are still being laundered through cryptocurrency channels, with law enforcement, DOJ units and virtual-asset service providers continuing to track and intercept the funds.
Authorities also seized cloud infrastructure tied to FaceStealer, a North Korea-linked deepfake impersonation scam that stole more than $400 million in crypto over 18 months by compromising victims through fake video calls.
Washington cast both operations as part of Pyongyang's use of crypto theft to finance its regime and weapons programs, signaling further seizures and recovery efforts.