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FBI Seizes $1.2 Billion In Cryptocurrency Stolen From Binance

Investigators also identified a separate social engineering operation called FaceStealer, which North Korea allegedly used to steal $400 million in cryptocurrency over the past 18 months.

,   and  TIPP Staff
2 min read
FBI says US has seized US$1.2 billion worth of cryptocurrency stolen from Binance. Pic via(@CTVNews)

The FBI has announced the seizure of more than $1.2 billion in cryptocurrency stolen from Binance following an investigation into a major cyber theft operation.

US authorities attributed the wider hacking campaign, which allegedly involved North Korean group Trader Traitor, with stealing approximately $6.3 billion in what officials described as the largest cryptocurrency heist in history.

Investigators also identified a separate social engineering operation called FaceStealer, which North Korea allegedly used to steal $400 million in cryptocurrency over the past 18 months.

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The US Justice Department obtained court authorisation to seize the recovered assets, while government agencies and private-sector partners have collectively frozen more than $2.7 billion in stolen funds.

American officials have repeatedly accused North Korea of using cybercrime proceeds to finance its regime and illicit weapons programmes.

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How Did Hackers Steal More Than $6 Billion From Binance
Binance said preliminary findings point to an engineer’s compromised laptop, which may have enabled unauthorized withdrawals.
tippinsightsTIPP Staff

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