Other
"US Is Seeking More than $4 Billion From Binance to End Case"
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
- 2023-11-20 Breach occurred
- 2023-11-20 Publicly disclosed