US courts target $1.2B in stolen Binance funds, yet victims face a new hurdle

DOJ secured court authority over $1.2 billion from Binance’s $6 billion hack, with forfeiture and repayment timelines unresolved.

US authorities have secured court authorization to seize or restrain more than $1.2 billion stolen from Binance funds, advancing the legal effort to recover assets from the October theft.

The Department of Justice (DOJ) disclosed the authorization on Nov. 12 but did not announce completed forfeiture or a timetable for returning the money.

The court-covered assets sit within more than $2.7 billion frozen through combined US government and private-sector efforts, according to the department.

The larger figure measures the combined freezing effort, while the smaller one identifies the portion for which DOJ reports seizure or restraint authority.