$1.5 Billion Crypto Hack: Bybit Sues North Korea in U.S. Court

Bybit, a cryptocurrency exchange, has taken North Korea and several other entities to court over a massive $1.5 billion hack that occurred in February 2025. The attack, attributed to the Lazarus Group, resulted in the theft of approximately $1.5 billion worth of Ether from Bybit.

The lawsuit was filed in the U.S. District Court for the District of Columbia and seeks to hold those responsible accountable and recover the stolen assets. Bybit obtained a preliminary injunction restricting the transfer or disposal of certain assets connected to the case, allowing the exchange to pursue assets associated with the attack while preventing further movement during the litigation.

Bybit's Chief Executive Officer Ben Zhou stated that the exchange's objectives include protecting customers, recovering as much of the stolen cryptocurrency as possible, and pursuing those responsible for the breach. The attack had significant repercussions for confidence in Bybit and raised broader concerns across the cryptocurrency industry about security practices.