US gets court authority over $1.2bn in Binance theft
The Justice Department won court authority to seize or restrain more than $1.2 billion from Binance’s $6.3 billion crypto theft; over $2.7 billion is frozen.
The Blockheight Editors··2 min read
On Nov. 12, 2026, the US Justice Department said it had court authorization to seize or restrain more than $1.2 billion in cryptocurrency stolen from Binance on Oct. 29, according to the department’s announcement. The FBI told the Associated Press that more than $1.2 billion had been seized.
How much of the Binance theft is under US control?
The Justice Department said the theft exceeded $6 billion. US government and private-sector efforts have frozen more than $2.7 billion of the stolen assets, and the court-authorized amount is part of that total, the department said.
The FBI identifies the North Korean military actors behind the theft as TraderTraitor. The department said they continued laundering assets through cryptocurrency bridges, mixers and exchanges as authorities and industry partners worked to trace and block the funds.
Who is affected by the court action?
The assets were reported stolen from Binance, a cryptocurrency exchange. The court action targets the stolen cryptocurrency; the Justice Department announcement does not say that Binance customers will receive funds directly or specify how much, if any, will ultimately be returned to them.
Seized cryptocurrency is subject to a legal process. The Associated Press reported that the US government typically files a forfeiture claim with a judge, who determines who has a legitimate claim to recovered property.
What happens to the remaining assets?
Investigators are continuing efforts to trace, freeze, seize and forfeit the stolen assets, the Justice Department said. Its announcement does not identify the tokens or wallets covered by the court authorization, or give a timeline for further seizures or any return of funds.
The FBI and partner agencies are coordinating recovery efforts, while the department says TraderTraitor actors are still laundering assets. The next steps are further tracing and forfeiture proceedings; the eventual amount recovered and who receives it remain unconfirmed.
Source material
- department’s announcement — justice.gov