US Court Authorizes Seizure of $1.2 Billion in North Korean Crypto

The United States Department of Justice has obtained judicial authorization to seize $1.2 billion in cryptocurrency. These assets were stolen from the Binance exchange in an attack attributed to North Korean military agents. The group, identified by the FBI as TraderTraitor, carried out the breach in October.

The action is part of a broader effort that has already resulted in the freezing of $2.7 billion in digital assets. This amount represents approximately half of the total value diverted during the incident. Binance reported that it covered user losses using its own reserve funds and insurance.

Beyond the Binance case, US authorities dismantled the infrastructure of the FaceStealer scheme. This operation was responsible for the theft of approximately $400 million in crypto assets. The government is now working to convert current freezes into permanent forfeitures through asset seizure proceedings.

Investigations point to the fact that North Korean actors continue trying to move the remaining resources. They use network bridges, coin mixers, and exchanges to hide the money trail. The FBI and the Secret Service issued alerts for companies in the sector to block transactions linked to the identified addresses.

The tracking and seizure process remains ongoing to attempt to recover the remaining balance from the attack. Binance stated that customer funds were fully restored following the security breach. The US government maintains cooperation with the private sector to prevent criminals from accessing the retained funds.