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DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion

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DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion

Bitcoin Magazine

DOJ Wins Court Authority to Seize $1.2 Billion of North Korea’s Stolen Binance Crypto as Freezes Top $2.7 Billion

The DOJ said Thursday it has court authority to seize or restrain more than $1.2 billion in cryptocurrency stolen from Binance, part of a freeze of more than $2.7 billion that officials said halted about half of North Korea’s October exchange heist.

In a Thursday announcement, the department said that on or about Oct. 29, members of the North Korean military, referred to by the FBI as TraderTraitor, stole more than $6 billion worth of virtual assets from Binance. That is below the $6.34 billion figure Binance has covered since the attack.

Binance said it had completed coverage of the assets hit in the breach, replacing the tokens from company funds rather than by recovering the stolen coins. Those are separate tracks: the DOJ is trying to interdict what was taken, while the exchange has said users were made whole from its Secure Asset Fund for Users, a portion of its futures insurance fund and its treasury.

Assistant Attorney General A. S. government and private-sector efforts. 2 billion. The underlying court papers were not posted with the announcement.



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