Bybit Sues North Korea and Lazarus Group Over Massive Crypto Hack

The Bybit exchange has taken a bold step in its fight against cybercrime by filing a lawsuit against North Korea, the Lazarus Group, and other entities involved in the massive hack of February 21, 2025. The attack, which compromised a cold Ethereum wallet, resulted in the theft of nearly $1.5 billion in cryptocurrencies.

Bybit's legal action, filed with the US federal court for the District of Columbia, seeks to freeze identified stolen assets and recover some of the funds lost during the hack. According to Bybit, about $48.4 million has been recovered so far, while over $30.5 million is currently frozen on partner platforms.

Bybit's CEO, Ben Zhou, stated that the exchange's top priority is to protect its users and bring those responsible for the attack to justice. He emphasized that this case is not just about Bybit but also about protecting trust in the crypto industry as a whole.