The DOJ says it got court authorization to seize or restrain $1.2B of the $2.7B frozen by Tether and Circle after North Korea's $6.3B Binance hack on October 29 (Myles Miller/Bloomberg)
The Department of Justice secured judicial approval to restrain or confiscate $1.2 billion connected to a major cyberattack. These assets were carved out of a larger $2.7 billion pool previously immobilized by stablecoin issuers Tether and Circle. The enforcement action directly addresses the massive October 29 security breach at Binance that resulted in the loss of $6.3 billion. Investigators have formally pinned the multi-billion-dollar theft on North Korean cyber actors.
Key points
Law enforcement authorities have attributed the multi-billion-dollar Binance breach direc…: Law enforcement authorities have attributed the multi-billion-dollar Binance breach directly to North Korea.
Federal prosecutors now hold the legal authority required to take control of $1.2 billion…: Federal prosecutors now hold the legal authority required to take control of $1.2 billion in frozen stablecoins.
Private stablecoin issuers played a pivotal role by initially locking down billions of do…: Private stablecoin issuers played a pivotal role by initially locking down billions of dollars in stolen assets.
Sources checked by our analysis pipeline: 1
Nvidia Newsroom: |
Hayden Field / The Verge: |
Financial Times: |
Amrith Ramkumar / Wall Street Journal: |
Reuters: |
Michael Acton / Financial Times: |
Koray Kavukcuoglu / Google: |
Abner Li / 9to5Google: |
Lingling Wei / Wall Street Journal: |
The Information: |
Paul Mozur / New York Times: |
Zac Hall / 9to5Mac: |
Bloomberg: |
Adam Satariano / New York Times: |
Julian Chokkattu / Wired: |
Anna Washenko / Engadget: |
Bloomberg: |
Jennifer Pattison Tuohy / The Verge: |
Financial Times: |
Jonathan Weil / Wall Street Journal: |
Rohan Goswami / Semafor: |
Erik Wasson / Bloomberg: |
Reuters: |
Anirban Sen / Reuters: |
Myles Miller / Bloomberg: |
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