Bybit Sues North Korea and Lazarus Group Over $1.5 Billion Crypto Heist
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has taken legal action against North Korea and the Lazarus Group in a landmark effort to recover stolen assets. The lawsuit accuses the two entities of orchestrating a $1.5 billion theft that occurred in February 2025.
The civil action was filed in the U.S. District Court for the District of Columbia, where Bybit has secured a preliminary injunction freezing identified stolen assets held by unidentified individuals and entities. This represents an important step in Bybit's ongoing efforts to recover funds, support international law enforcement investigations, and reinforce accountability for large-scale cybercrime.
According to Ben Zhou, Co-founder and CEO of Bybit, the company has worked closely with investigators, exchanges, regulators, law enforcement, and now the courts to disrupt cybercrime targeting the digital asset industry. The preliminary injunction prohibits the transfer or dissipation of identified assets connected to the case while litigation continues.
Bybit intends to seek additional judicial relief as the proceedings advance. The company believes legal remedies, alongside criminal enforcement, can play an important role in preserving recoverable assets and strengthening accountability. To date, approximately $48.4 million in stolen assets has been recovered, with over $30.5 million frozen across more than 28 exchanges and custodians.