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

WASHINGTON (AP) — 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. The theft of about $6.3 billion from Binance is regarded as the biggest crypto heist in history, and the FBI has previously attributed it to a North Korean hacking group known as TraderTraitor. The U.S. government and private sector have so far combined to freeze more than $2.7 billion of the stolen funds, and the Justice Department said Thursday that it has now obtained court authorization to seize or restrain more than $1.2 billion of that total. Typically in those situations, the U.S. government will file a claim of forfeiture with a judge, who will then determine who has a legitimate claim to the recovered funds. Also Thursday, the FBI blamed North Korea for a separate social engineering scheme that officials say resulted in the theft of $400 million worth of cryptocurrency over the last 18 months.

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