US obtains court approval to seize, restrain over $1.2 bil. stolen in NK Binance theft
WASHINGTON — The U.S. Justice Department has said it has obtained court authorization to seize or restrain more than $1.2 billion in cryptocurrency purportedly stolen by North Korean hackers from crypto exchange Binance last month. The $1.2 billion subject to court-authorized seizure or restraint is part of more than $2.7 billion in assets frozen by U.S. authorities and private-sector partners,…
The U.S. Justice Department has obtained court authorization to seize or restrain over $1.2 billion in cryptocurrency that was allegedly stolen by North Korean hackers from the crypto exchange Binance. This is part of more than $2.7 billion in assets that have been frozen by U.S. authorities and private-sector partners following the theft of over $6 billion in virtual assets from Binance.
The hackers, identified as the group TraderTraitor by the FBI, are continuing to launder the stolen assets through cryptocurrency bridges, mixers, and exchanges, while U.S. authorities work to trace and recover the funds. North Korea's government relies on cryptocurrency theft to fund its rogue regime and illicit weapons program, according to M. Scott Proctor, principal deputy assistant attorney general for national security.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
