FBI seizes or freezes more than $1.2 billion in crypto linked to Binance theft

The Federal Bureau of Investigation (FBI) says it has seized or frozen cryptocurrency worth more than $1.2 billion that U.S. authorities allege were stolen from Binance last month.

The theft — estimated at roughly $6.3 billion — is considered the largest cryptocurrency heist on record. U.S. investigators previously accused a North Korean hacking group known as "TrejderTrejtor" of carrying out the attack.

So far, U.S. government agencies together with private-sector partners have been able to freeze stolen assets totaling more than $2.7 billion. The U.S. Department of Justice yesterday said it obtained court approval to seize or block more than $1.2 billion from that pool.

How officials proceed

When the U.S. seeks to take control of alleged proceeds of cybertheft, it typically files a civil forfeiture request with a judge. A court then considers which parties have a legal claim to the seized assets and may order their return.

The FBI also yesterday accused North Korea of operating a separate fraudulent scheme that, according to U.S. authorities, stole about $400 million in cryptocurrency over the past 18 months. U.S. officials have repeatedly said Pyongyang uses cybercriminal activity to raise funds for the regime, including to support its illicit weapons programs.

Photo: press material from the event