The U.S. Department of Justice has been authorized by a court to seize $1.2 billion of the frozen funds in the Binance hacking case.

BlockBeats news, November 13 - The U.S. Department of Justice stated that it has collaborated with the world's two largest stablecoin issuers in an attempt to recover nearly half of the stolen funds from the Binance hack. In this attack, hackers stole over $6 billion in assets from the Binance cryptocurrency trading platform.

The U.S. Department of Justice has obtained court authorization to seize or restrict the disposition of $1.2 billion out of the $2.7 billion in funds frozen by Tether and Circle Internet Group immediately after the hacking incident on October 29. Investigators are still tracing the remaining funds. The Federal Bureau of Investigation (FBI) refers to the relevant hacker group as "TraderTraitor," which is currently attempting to transfer and launder the stolen assets through cross-chain bridges, mixers, and cryptocurrency trading platforms.