Binance theft seizure leaves victims waiting on court
The FBI says U.S. authorities obtained court authorization to seize or restrain more than $1.2 billion in cryptocurrency stolen in the roughly $6.3 billion Binance heist. More than $2.7 billion of the stolen funds has been frozen by the U.S. government and private-sector partners, but that total is not money already returned to users.
The funds now enter a forfeiture process: the government can ask a judge to take ownership, and the judge must decide who has a legitimate claim. The seizure authorization is a recovery milestone, not a payout or a ruling on which victims are entitled to the money.
For Binance customers and other claimants, recovery and compensation remain separate steps. Until a court determines ownership, the amount frozen or restrained does not establish who will receive funds or when.
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North Korean state hackers have stolen more than $400 million in cryptocurrency over the past 18 months by pulling targets into fake Zoom and Teams calls
FBI Says US Seized $1.2 Billion Worth of Cryptocurrency Stolen From Binance
Also Thursday, the FBI blamed North Korea for a separate social engineering scheme that officials say resulted in the theft of $400 million worth of cryptocurrency.