The Justice Department obtained court authorization to seize cryptocurrency stolen from Binance
The Justice Department obtained authorization covering more than $1.2 billion in Binance assets, an amount already part of the larger pool frozen rather than an additional recovery. The funds are part of more than $2.7 billion frozen after a roughly $6.3 billion theft attributed by the FBI and Binance to North Korea-linked group TraderTraitor.
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Assistant Attorney General A. Tysen Duva said multiple Justice Department divisions helped freeze the assets before they moved beyond law enforcement’s reach. He said the Criminal Division used its expertise to halt about half of the breach.
The Justice Department said efforts to trace, freeze, seize and forfeit the funds are ongoing as TraderTraitor actors continue laundering assets through cryptocurrency bridges, mixers and exchanges.
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Reporting behind this story
- The Record by Recorded Future — Feds announce seizure of $1.2 billion from Binance theft; also takedown of ‘FaceStealer’ tools | The Record from Recorded Future News
- BigGo Finance — DOJ Wins Court Authority to Seize $1.2 Billion of Crypto Stolen in Binance Hack
- securityweek.com — FBI Says US Seized $1.2 Billion Worth of Cryptocurrency Stolen From Binance
- cryptonomist.ch — North Korea Cryptocurrency Theft: DOJ Seizes Binance Assets