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"US Is Seeking More than $4 Billion From Binance to End Case"

2023-11-20 [vendor] DOJ Binance resolution rumors
Primary Source ↗

Incident Details

According to Bloomberg, ongoing negotiations between the U.S. Department of Justice and Binance have involved penalties greater than $4 billion as part of ending an ongoing, multi-year probe into the exchange. Such a settlement would not insulate founder Changpeng “CZ” Zhao from criminal charges.The negotiation may involve a deferred prosecution agreement, in which the US would file a criminal complaint but agree not to prosecute so long as Binance met agreed conditions under a monitoring process.It remains to be seen if this is the avenue the DOJ and Binance will go with. A Bloomberg source speculated that a decision could come within the next few weeks.

Technical Details

Initial Attack Vector
Regulatory / legal action
Vendor / Product
DOJ Binance resolution rumors

Timeline

  1. 2023-11-20 Breach occurred
  2. 2023-11-20 Publicly disclosed