DoJ to seize $1.2B worth of crypto stolen from Binance - AzerNews
The United States Department of Justice announced Thursday it will seize $1.2 billion in cryptocurrency stolen from Binance, disrupting North Korean government financing schemes.
The seizure is part of broader efforts to counter North Korean cyber operations that have targeted individuals in the cryptocurrency and Web3 sectors through deceptive social engineering tactics. These operations have resulted in the theft of more than $400 million in the last 18 months alone.
FaceStealer scheme
North Korean hackers have employed sophisticated methods including artificial intelligence to create "deepfake videos of well-known and influential individuals, often in the cryptocurrency and web3 industries," making their FaceStealer scheme particularly effective.
North Korean cyber actors have used the FaceStealer scheme to aggressively target individuals in the cryptocurrency and Web3 sectors through deceptive social engineering tactics, resulting in the theft of more than $400 million in the last 18 months.
North Korean financing
The operation highlights ongoing concerns about North Korea's use of cyberattacks to generate revenue for its regime, bypassing international sanctions. The $1.2 billion seizure represents one of the largest cryptocurrency recoveries in history.
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