FBI says US has seized $1.2 billion worth of cryptocurrency stolen from Binance - WDRB

The FBI announced Thursday that it had seized more than $1.2 billion of cryptocurrency reported stolen last month from Binance. The theft of approximately $6.3 billion from the exchange marks the largest crypto heist in history, with the FBI previously attributing it to North Korean hacking group TraderTraitor.

Recovery Efforts

The U.S. government and private sector have combined to freeze more than $2.7 billion of the stolen funds. The Justice Department has obtained court authorization to seize or restrain over $1.2 billion of that total. Typically, the government will file a claim of forfeiture with a judge to determine legitimate claims to the recovered assets.

North Korean Cyber Threats

Also on Thursday, the FBI accused North Korea of a separate social engineering scheme called FaceStealer, which has resulted in $400 million worth of cryptocurrency theft over the last 18 months. This scheme involves hijacking popular messaging apps and creating deepfake videos.