The Southern District of New York (SDNY) and Homeland Security Investigations (HSI) in San Diego have seized $31 million in crypto assets linked to the Uranium Finance hack. The BNB Chain-based decentralized exchange (DEX) suffered an attack in April 2021 targeting its pair contracts.
$31 Million Seized From Uranium Finance Hack
The hacker had drained over $57 million from Uranium Finance, resulting in the platform’s shutdown, with users receiving no compensation. Following the exploit, the attackers attempted to launder the funds through various means, including crypto mixer Tornado Cash and centralized exchanges.
The latest seizure by United States law enforcement agencies is the first significant recovery of stolen assets from the attack after a nearly four-year effort to recover the funds. The HSI-SDNY move offers hope for affected investors who may have given up on realizing compensation given the nature of DeFi Protocols.
While the $31 million seizure represents a partial victory, over $26 million remains unaccounted for, leaving questions about whether authorities can recover the full amount stolen in the 2021 Uranium Finance exploit.
However, U.S. authorities have yet to disclose further details about the ongoing investigation or any plans to redistribute funds. Nonetheless, according to an official X post from SDNY, affected users can contact the agency via email dedicated to the exploit victims.
Not the First Seized Crypto
The recent seizure of $31 million linked to the Uranium Finance hack is just one of many instances in which authorities have successfully recovered stolen cryptocurrency. Irish authorities are holding over $378 million worth of Bitcoin seized from a convicted drug dealer involved in darknet-based trafficking.
Bitcoins amassed through illicit transactions represent one of the largest crypto confiscations in Ireland’s history. Law enforcement officials are now determining how to handle the seized assets, considering whether to liquidate them or integrate them into government-controlled reserves.
Similarly, a Singaporean court seized $76.8 million from a crypto scammer who defrauded investors through a fraudulent trading scheme. Recently, Crypto exchange Bybit recovered $43 million from an exploiter who attempted to siphon funds from its platform.
Meanwhile, blockchain detective ZachXBT recently exposed a $243 million crypto heist. His on-chain analysis provided leads, helping law enforcement track the movement of the stolen assets and arrest the cybercriminals.
