US authorities target $1.2 billion in Binance hack crypto after court orders

US authorities have received court approval to seize or restrain more than $1.2 billion in cryptocurrency linked to the Binance hack. The Department of Justice disclosed this action on November 12, two weeks after Binance originally reported the theft, bringing the total amount frozen by public and private initiatives to over $2.7 billion. The Federal Bureau of Investigation has attributed the Binance breach to TraderTraitor, a cybercriminal group with ties to the government of North Korea. According to Binance, the attack—which took place on October 29—resulted in total estimated losses of $6.34 billion across various digital assets held by the exchange. North Korean officials have publicly denied involvement in the incident.

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