DOJ freezes over 1.2 billion USD in Binance hack assets

The U.S. Department of Justice disrupted hacking infrastructure linked to North Korea's cryptocurrency theft and secured court approval to freeze over 1.2 billion USD in stolen cryptocurrency from Binance. This action prevents the assets from being seized or disposed of. North Korean hackers reportedly stole over 400 million USD in cryptocurrency in the past 18 months using social engineering attacks known as 'FaceStealer.' U.S. authorities seized the cloud infrastructure used in these attacks, and the FBI obtained over 900 webcam videos of victims. The scam involved sending video meeting invitations to lure victims. In a related response, the FBI stated that TraderTraitor, a North Korean military-linked hacking group, stole over 6 billion USD in virtual assets from Binance around October 29. Through collaboration between the U.S. government and the private sector, over 2.7 billion USD has been frozen, with the DOJ receiving court approval to seize or restrict disposal of more than 1.2 billion USD. U.S. authorities are tracking laundering efforts of the stolen assets through crypto bridges, mixers, and exchanges, and will continue to freeze, seize, and recover the funds.

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