The brief
The FBI said Thursday that it had seized more than $1.2 billion of cryptocurrency reported stolen last month from Binance, the world's largest crypto exchange.
Federal authorities say the hack is linked to North Korea. Officials said they have taken infrastructure used in a scheme known as FaceStealer, which they say was used to steal as much as $400 million in crypto assets.S2
The seizure is part of a broader crackdown by the U.S. Department of Justice, which is targeting the proceeds of the theft and the tools used to carry it out.S2
Court authorization obtained to seize or restrain more than $1.2 billion of stolen Binance crypto
- ABC News reports the Justice Department has obtained court authorization to seize or restrain more than $1.2 billion of the stolen funds.
- ABC News reports the US government and private sector have together frozen more than $2.7 billion of the stolen funds so far.
- According to ABC News, the funds will be subject to a forfeiture claim filed with a judge, who will decide who has a legitimate claim to them.
