DOJ Seizes More Than $1.2 Billion in Crypto Tied to Binance Hack

The U.S. Department of Justice has seized and frozen more than $1.2 billion in cryptocurrency tied to a Binance hack that the department attributed to North Korean hackers. The operation marks a major federal enforcement action involving a large amount of stolen digital assets.

The theft occurred last month. The seizure also included infrastructure associated with FaceStealer, a social engineering scheme linked to more than $400 million in theft. The action covered crypto tied to the Binance hack as well as infrastructure connected to a theft-related operation.

Binance is one of the world's largest cryptocurrency exchanges and facilitates a wide range of digital asset transactions. The Justice Department's role includes combating cybercrime and protecting financial systems from illicit activity, including threats with national security implications. The seizure adds to scrutiny of exchange security and the risks posed by cybercrime to crypto platforms. The enforcement action reflects concerns about rising cybercrime in crypto and vulnerabilities at major exchanges.