US DOJ seizes over $1.2bn in crypto linked to Binance hack
The Department also dismantled infrastructure used in North Korea's Facestealer deep‑fake operation that stole more than $400 million.
Key takeaways
- 1US DOJ seized more than $1.2bn in crypto linked to the Binance hack
- 2Facestealer deep‑fake scheme accounted for over $400m in stolen funds
The US Department of Justice said on 12 November that it has seized or restrained more than $1.2bn in cryptocurrency taken from Binance during a hack attributed to North Korean actors. The agency also dismantled the infrastructure behind North Korea's Facestealer deep‑fake scheme, which stole over $400m.
The Binance breach is part of a broader theft exceeding $6bn. The DOJ said the Facestealer operation used synthetic video to trick victims into sending crypto, generating $400m in losses. The statement noted that frozen assets were moved through a network of mixers before reaching Binance's custodial addresses.
Binance is the world's largest crypto exchange. North Korean cyber units have long targeted crypto platforms, opening roughly 12,000 wallets at a rate of one every 25 seconds and retaining about 30 percent of the proceeds. The exchange has previously cooperated with authorities to return stolen crypto, though a large portion remains unrecovered.
The seizures point to heightened US enforcement against illicit crypto flows. This may prompt tighter compliance checks for major exchanges. Observers will watch for additional asset freezes and any impact on Binance's anti‑money‑laundering processes. Regulators in other jurisdictions are likely to monitor the case for similar activity.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.