FBI and Justice Department seize $1.2 billion in crypto stolen from Binance

The FBI said Thursday it had seized more than $1.2 billion in cryptocurrency stolen last month from Binance, the world's largest crypto exchange. Officials attribute the roughly $6.3 billion theft, which occurred Oct. 29, to North Korean military hackers known as TraderTraitor. The Justice Department said it obtained court authorization to seize or restrain the $1.2 billion, and government and private-sector efforts have frozen more than $2.7 billion. A judge will decide who has a legitimate claim to the recovered funds. Separately, the FBI blamed North Korea for a FaceStealer scheme that stole $400 million over 18 months. Binance said it had fully covered affected assets, and tracing and freezing efforts continue.

Right-leaning sources lead with Binance's response rather than the seizure. Fox Business features co-CEO Richard Teng saying customers will not lose money, the exchange's full coverage of affected assets and its updated Proof of Reserves, and its headline frames the event as a massive North Korean hack. The Washington Times, in a brief excerpt, reports the FBI seizure under a headline close to AP's. Left-leaning CBS News, the only left-leaning outlet here, headlines the FBI recovery and gives weight to FaceStealer's hijacked messaging apps and deepfake videos. It quotes a First Assistant U.S. Attorney saying crypto has become fertile ground for North Korea and explains the forfeiture process. All sides agree on the seizure, the $6.3 billion theft and North Korean attribution. They differ on whether Binance's customer protections or North Korean schemes lead. Alternative AP and CNBC track the seizure facts closely, with CNBC adding that the DOJ seized cloud infrastructure used in FaceStealer.