Bybit files lawsuit against North Korea and Lazarus Group for $1.5B hack, wins asset freeze order.
Security & Exploits ·
Bybit has filed a civil lawsuit in U.S. District Court for the District of Columbia against the Democratic People's Republic of Korea, its Reconnaissance General Bureau intelligence agency, and the Lazarus Group over a $1.5 billion theft. The exchange secured a preliminary injunction freezing identified stolen assets held by unnamed defendants while litigation proceeds, prohibiting their transfer or sale.
The theft occurred on February 21, 2025, when the state-sponsored Lazarus Group took approximately 400,000 ETH and stETH from the Dubai-based exchange. North Korean hackers stole $2.02 billion in total crypto last year, making the Bybit incident the largest portion of that haul. According to available data, North Korea has accumulated $6.75 billion in stolen cryptocurrency overall, believed to fund its weapons program.
Bybit's co-founder and CEO stated the action aims to recover funds, support law enforcement investigations, and establish accountability for the attack. The civil suit proceeds independently of ongoing criminal investigations by U.S. authorities. The exchange indicated it will pursue additional relief from the court, though the ultimate outcome of the lawsuit and asset recovery remains uncertain given the defendants' sovereign status.