FBI recovers $1.2 billion in cryptocurrency stolen from Binance
The FBI has seized more than $1.2 billion worth of cryptocurrency stolen last month from Binance, the world's largest crypto exchange, in what is regarded as the biggest crypto heist in history.
The theft of approximately $6.3 billion from Binance represents the largest cryptocurrency heist in history. The U.S. government and private sector have collaborated to freeze more than $2.7 billion of the stolen funds, with the Justice Department now authorized to seize or restrain over $1.2 billion of that total.
North Korean Connection
The FBI has previously attributed the Binance hack to a North Korean hacking group known as TraderTraitor. In a separate announcement Thursday, the FBI also blamed North Korea for a social engineering scheme called FaceStealer, which has resulted in $400 million worth of cryptocurrency thefts over the past 18 months.
Legal Process
By springing into action at a moment's notice, we worked together to freeze this massive criminal fraud in its tracks. The North Korean regime may think they are sophisticated cyber criminals, but we have consistently met them head on, as we did here seizing more than $1.2 billion of their stolen assets.
Typically in such cases, the U.S. government will file a claim of forfeiture with a judge, who will determine who has a legitimate claim to the recovered funds. The Justice Department emphasized the swift action taken in this case.
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