FBI says US has seized $1.2 billion worth of cryptocurrency stolen from Binance - ABC News - Breaking News, Latest News and Videos
The FBI has seized more than $1.2 billion of cryptocurrency reported stolen last month from Binance, the world's largest crypto exchange.
The theft of approximately $6.3 billion from Binance is regarded as the biggest crypto heist in history, with the FBI previously attributing it to a North Korean hacking group known as TraderTraitor. The U.S. government and private sector have combined to freeze more than $2.7 billion of the stolen funds.
Recovery Efforts
The Justice Department announced Thursday that it has obtained court authorization to seize or restrain more than $1.2 billion of the total stolen amount. Typically, the U.S. government will file a claim of forfeiture with a judge, who will then determine who has a legitimate claim to the recovered funds.
North Korean Cyber Threats
U.S. officials have repeatedly accused North Korea of using cyber schemes to generate funds for its regime, including its illicit weapons program.
Also on Thursday, the FBI blamed North Korea for a separate social engineering scheme called FaceStealer, which resulted in the theft of $400 million worth of cryptocurrency over the last 18 months. This scheme involves hijacking popular messaging apps and recording deepfake videos.
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