DOJ seeks to seize $1.2 billion linked to Binance hack and disrupts North Korean crypto theft scheme

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The US Department of Justice (DOJ) has obtained court approval to seize or freeze more than $1.2 billion stolen from Binance and disrupted a separate North Korean operation that used deepfake video calls to steal cryptocurrency.

The funds are part of more than $2.7 billion frozen through cooperation between US authorities and private companies, the DOJ said on Thursday. Investigators are continuing to trace the stolen assets as hackers move them through crypto bridges, mixers and exchanges.

The department attributed the Binance hack to TraderTraitor, a group of North Korean military hackers. The attackers stole more than $6 billion from the exchange around 29 October.

The DOJ said North Korea uses cryptocurrency theft to fund its government and weapons programme. The National Security Division will use available tools to seize and return the stolen funds, said M. Scott Proctor, principal deputy assistant attorney general for national security.