DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion
By Micah Zimmerman
AI summary of the source article
The DOJ obtained court authority to seize or restrain over $1.2 billion in cryptocurrency stolen from Binance by North Korean hackers. The action is part of a joint government and private-sector freeze exceeding $2.7 billion.
Why it matters
Principal Deputy Assistant Attorney General for National Security M. Scott Proctor stated: “North Korea’s government bankrolls its rogue regime and illicit weapons program through cryptocurrency theft.”
Key facts
- North Korean actors stole more than $6 billion in virtual assets from Binance on or about October 29.
- The DOJ received court authorization to seize or restrain over $1.2 billion of the more than $2.7 billion frozen so far.
- Separately, federal authorities seized cloud infrastructure used in 'FaceStealer,' a deepfake social engineering scheme that stole over $400 million in crypto.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion The DOJ won court authority to seize $1.2 billion of North Korea's stolen Binance crypto and took down a $400 million deepfake theft scheme. This post DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion firs…