The FBI has received court approval to seize over $1.2 billion in cryptocurrency linked to a major hack of the Binance exchange. This hack resulted in the theft of $6.3 billion in digital assets. The U.S. Justice Department announced this on November 13, 2026, as part of an ongoing investigation into the cyberheist, which is attributed to North Korean hackers.
Recovery Efforts by Binance
Binance has stated it covered all customer tokens stolen during the incident on October 29. The exchange used profits and emergency funds to restore the lost assets. Binance thanked its users for their patience in a social media post. Most funds were quickly restored, but about 10% will need more effort. The attack involved complex methods, including compromising an employee through a fake job interview and using malicious software.
Ongoing Investigations and Legal Actions
The Justice Department is working with major stablecoin issuers, Tether and Circle, to recover nearly half of the stolen funds. They have frozen $2.7 billion in assets, with $1.2 billion now under seizure. M. Scott Proctor, principal deputy assistant attorney general for national security, stressed the commitment to recovering North Korea's stolen assets. These assets are believed to finance the country's government and weapons programs. Investigators are tracking the laundering of the stolen cryptocurrency through thousands of digital wallets and multiple blockchains. Blockchain analytics firm Elliptic reported over 65,000 transactions executed in just one week.
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The seizure of these assets could affect the cryptocurrency market, especially stablecoins and exchanges involved in digital asset transactions. The ongoing investigation may lead to more regulatory scrutiny on exchanges and their security measures. Watch for further updates from the Justice Department about recovering the remaining stolen funds and any potential legal actions against the perpetrators.
Based on reporting by: moneycontrol.com, businesstimes.com.sg