US DOJ Secures Court Approval to Seize $1.2 Billion From Binance Hack Linked to North Korea - FinanceFeeds
The U.S. Department of Justice has obtained court authorization to seize $1.2 billion in cryptocurrency stolen from Binance during an October cyberattack attributed to North Korean hackers.
The seizure is part of coordinated efforts involving federal investigators, cryptocurrency companies and private-sector partners that have frozen more than $2.7 billion of the stolen assets. The October 29 breach involved more than $6 billion in cryptocurrency, making it the largest reported digital asset theft to date.
The FBI attributed the attack to TraderTraitor, a North Korean military-linked hacking group previously associated with cryptocurrency theft and sophisticated cyber intrusions. The $1.2 billion covered by court authorization forms part of the $2.7 billion already frozen, rather than representing an additional recovery.
Freezing Assets
The Justice Department said its National Security Division, Criminal Division and federal prosecutors coordinated with virtual asset service providers to restrict access to stolen cryptocurrency immediately after the attack. The FBI, U.S. Secret Service and IRS Criminal Investigation division participated in tracing transactions.
The approximately $2.7 billion frozen represents more than 40% of the estimated $6.3 billion stolen.
Binance Response
Binance announced it had completed coverage of assets affected by the October breach, estimated at approximately $6.3 billion. The exchange allocated company funds to address the incident and published an updated proof-of-reserves snapshot.
The recovery effort comes amid broader U.S. enforcement action against North Korean cryptocurrency theft operations. On November 12, the Justice Department also announced the disruption of FaceStealer, a separate cybercrime campaign involving fraudulent video meetings and impersonation.
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