U.S. seizes $1.2 billion in cryptocurrency stolen from Binance

The U.S. Department of Justice seized roughly $1.2 billion in cryptocurrency stolen from Binance, acting against North Korean government schemes to fund the regime through large-scale crypto theft. The action targets Pyongyang’s reliance on stolen digital assets as a financing channel. Binance is the exchange from which the funds were taken. The size of the seizure makes it one of the larger crypto enforcement actions tied to North Korea. Watch for how the recovery affects Binance’s operations and customer confidence, and whether the DOJ pursues further seizures.