CryptoUnited States

US seeks to seize $1.2 billion from North Korea-linked Binance hack

The US Justice Department won court approval to seize or restrain over $1.2 billion stolen from Binance. It also disrupted a $400 million crypto theft scheme that used fake video calls.

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A court has given the Justice Department the power to seize or restrain over $1.2 billion in crypto taken from Binance. The funds came from an October 29 hack that the FBI linked to North Korea's state hacking unit. That amount is less than a fifth of the total stolen.

Blockchain records suggest billions more remain in the hacker's control. Crypto freezes have topped $2.7 billion, a figure that shows how much of the stolen money has been held back.

Figures in the North Korea cases

  • Binance funds targeted1,200 million $
  • Freezes reached2,700 million $
  • FaceStealer scheme400 million $

Figures as stated by the US Justice Department and on-chain data.

Separately, the Justice Department disrupted a fake-call crypto theft scheme and seized related infrastructure. The FBI describes the FaceStealer scheme as using recorded video and AI-generated fakes of people victims already trust, to get crypto workers to install malware during calls. The department says North Korea stole $400 million through the scheme.

TRM Labs has launched Beacon Concierge, a new service designed to help police freeze illicit crypto. The service is meant to help police seize stolen crypto within minutes.

GuideCrypto Fear and Greed Index today: how fearful or greedy the crypto market is

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