Bybit Sues North Korea for $1.5 Billion Crypto Heist

Bybit, a cryptocurrency exchange based in the UAE, has filed a civil lawsuit against North Korea and its Reconnaissance General Bureau for their alleged involvement in a massive cyberattack that resulted in the theft of $1.5 billion worth of digital assets.

The attack, which occurred in February 2025, was attributed to the Lazarus Group, a state-linked hacking collective. Bybit claims that the hackers stole approximately $48.4 million in stolen assets, while an additional $30.5 million has been frozen across various exchanges and custodians pending further legal action.

Bybit's chief executive, Ben Zhou, stated that 'the Lazarus attack wasn't just an attack on Bybit,' but rather an attack on trust in the cryptocurrency industry as a whole. He emphasized that the company is working closely with law enforcement and regulatory bodies to hold accountable those responsible for the heist.

The lawsuit also highlights the evolving approach of exchanges towards state-sponsored cybercrime, where civil litigation is being used as a supplementary tool alongside criminal referrals and on-chain tracing.