US has seized $1.2 billion worth of cryptocurrency stolen from Binance, FBI says
A major crypto heist culminates in a sweeping government action as authorities seize or restrain billions of stolen assets, including about $6.3 billion stolen from Binance, in what is described as the largest crypto theft to date. The FBI says more than $1.2 billion has been seized or restrained, part of a broader effort that has frozen over $2.7 billion of the proceeds. U.S. officials attribute the Binance breach to the North Korean group TraderTraitor, framing it within a pattern of state-sponsored cybercrime. Separately, North Korea is blamed for a social-engineering scheme, FaceStealer, that drained about $400 million in crypto over 18 months. The developments underscore ongoing U.S. and international efforts to recover illicit crypto and curb funding for illicit programs, with court actions determining legitimate claims to recovered funds and ongoing investigations continuing.
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The FBI reported it had seized or restrained more than $1.2 billion of cryptocurrency that was reported stolen last month from Binance.
The broader theft from Binance amounted to about $6.3 billion, described by officials as the largest crypto heist in history, with attribution to a North Korean hacking group known as TraderTraitor.
Combined U.S. government and private-sector actions have frozen more than $2.7 billion of the stolen funds to date.
The Justice Department has secured court authorization to seize or restrain more than $1.2 billion of that total, with a formal forfeiture process to determine rightful claims.
In a separate case, U.S. officials blame North Korea for a social-engineering scheme dubbed FaceStealer, which led to the theft of about $400 million in cryptocurrency over the past 18 months, involving hijacked messaging apps and deepfake videos.
The ongoing efforts illustrate a coordinated approach to recover illicit proceeds and limit funding for North Korea’s regimes’ activities, while investigations continue to pursue additional recoveries and accountability.