US authorities freeze billions in stolen Binance crypto after massive North Korean hack
A coordinated government and private-sector effort has frozen over $2.7 billion of cryptocurrency stolen in a October 29 attack on Binance, part of a larger $6+ billion heist attributed to North Korean hackers. Authorities have also secured court authorization to seize or restrain more than $1.2 billion of the stolen assets as investigations press to trace the remaining funds. Binance and law enforcement describe the breach as one of the largest crypto thefts on record, with the hackers using a fraudulent job interview and compromised internal systems to siphon assets, while continuing to attempt to launder them through exchanges and mixers. The incident underscores ongoing national-security and financial-system risks from state-linked cybercrime, and enforcement aims to deter further theft while the industry reinforces defenses and resilience. The ongoing process suggests further seizures and recoveries could unfold as investigations progress.
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Federal authorities and private-sector partners have frozen more than $2.7 billion in cryptocurrency tied to the Binance breach, which officials attribute to North Korean hackers operating as TraderTraitor. The total impact of the hack is estimated at about $6.3 billion, with efforts focused on tracing and recovering the remaining funds.
U.S. officials obtained court authorization to seize or restrain over $1.2 billion of the stolen assets, signaling aggressive pursuit of recovery while the investigation continues across exchanges, bridges, and mixing services designed to obscure movements.
Binance indicated customers would not bear losses and said it had replenished affected assets, after the breach began with a compromised employee computer via a fraudulent job interview. The company claimed to have closed entry points and rebuilt affected systems.
The Department of Justice linked the theft to North Korean military hackers, and authorities noted ongoing attempts by the suspects to move assets through crypto markets, highlighting the difficulty of fully unwinding cross-border crypto flows.
Separately, investigators disrupted a North Korean operation named FaceStealer responsible for more than $400 million in thefts over 18 months, illustrating a broader campaign targeting cryptocurrency ecosystems and related developers.