The money trail continues as the attackers attempt to launder the remaining funds through various crypto channels.

U.S. authorities obtained court authorization to seize or restrict more than $1.2 billion in virtual assets stolen last month from the Binance platform, the Department of Justice (DOJ) said.

The heist, carried out on October 29 and involving more than $6 billion, shook confidence in the security of the crypto market.

The Federal Bureau of Investigation (FBI) attributed the attack to members of North Korea’s military apparatus identified by the name TraderTraitor.

Thanks to cooperation between DOJ units, law enforcement agencies, and private virtual asset service providers, more than US$2.7 billion of the stolen funds has been frozen, CNBC reports.

However, the search continues as the attackers attempt to launder the remaining funds through various cryptocurrency channels.

In parallel, authorities dismantled FaceStealer’s cloud infrastructure, a massive identity theft and social engineering scam that stole more than US$400 million in cryptocurrency over 18 months.

In this scheme, hackers arrange fake video calls using stolen accounts and recordings of the victim’s acquaintances generated with AI deepfakes.

After claiming there is a technical issue that requires a supposed fix, they install malware on the computer to control communications, steal crypto assets, and target the victim’s contacts even more than a year later.

The campaign primarily targets workers in the crypto and Web3 sectors. Patrick Grandy, assistant director in charge of the FBI’s Los Angeles office, warned that FaceStealer exploits trust in video conferencing platforms and personal relationships, managing to deceive even users with extensive technical and security expertise.

Meanwhile, Principal Deputy Assistant Attorney General for National Security M. Scott Proctor stated that North Korea funds its regime and illicit weapons program through crypto asset theft, and assured that the National Security Division will use every tool at its disposal to seize and return those illicit proceeds.

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