Bybit Sues North Korea Over 1.5 Billion Dollar Hack, Freezes Assets

Crypto exchange Bybit has filed a civil lawsuit against North Korea for the theft of 1.5 billion dollars from the exchange in February 2025, securing a court order to freeze identified stolen assets. The lawsuit, filed in the U.S. District Court for the District of Columbia, names the Democratic People's Republic of Korea, its Reconnaissance General Bureau, and the Lazarus Group, which U.S. authorities link to the attack. Unidentified individuals and entities involved with the funds are also named as John Doe defendants. A judge granted a preliminary injunction to prevent the transfer or dissipation of the identified assets, indicating that Bybit is likely to succeed in the case. Bybit reported recovering approximately 48.4 million dollars and freezing about 30.5 million dollars across more than 28 exchanges and custodians, totaling around 5% of the stolen amount. The attackers drained roughly 500,000 ETH from a Bybit cold wallet by manipulating a signing interface. By April, 69% of the stolen funds were traceable, with 28% untraceable and 4% frozen. Most of the stolen Ethereum was converted to Bitcoin and moved through mixers. Bybit's civil case is ongoing alongside criminal investigations, and it continues to collaborate with agencies like the FBI.

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