FBI Says US Seized $1.2 Billion Worth of Cryptocurrency Stolen From Binance - SecurityWeek
The FBI announced Thursday it had seized over $1.2 billion worth of cryptocurrency stolen from Binance, the world's largest crypto exchange, in what is considered the biggest crypto heist in history.
The theft of approximately $6.3 billion from Binance marks the largest crypto heist ever recorded. The U.S. government and private sector have collaborated to freeze more than $2.7 billion of the stolen funds, with Thursday's seizure representing a major recovery effort.
In such cases, the U.S. government typically files a claim of forfeiture with a judge, who then determines rightful ownership of the recovered assets. This process ensures proper legal procedures are followed before distributing the funds.
North Korean Connection
U.S. officials have repeatedly accused North Korea of using cyber schemes to generate funds for its regime, including its illicit weapons program.
The FBI has previously attributed the Binance theft to a North Korean hacking group known as TraderTraitor. On the same day, the FBI also blamed North Korea for a separate social engineering scheme called FaceStealer, which resulted in $400 million worth of cryptocurrency thefts over the past 18 months.
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