Bybit Sues North Korea Over $1.5 Billion Crypto Hack, Secures Asset Freeze

Cryptocurrency exchange Bybit has filed a lawsuit against North Korea, its Reconnaissance General Bureau, and the Lazarus Group over a $1.5 billion cyberattack that occurred on February 21, 2025.

The attack compromised one of Bybit's suppliers and altered the digital wallet address being used for a transfer, resulting in around 401,000 Ethereum tokens worth approximately $1.5 billion at the time being sent to a wallet controlled by the attackers instead of its intended destination.

Bybit has recovered approximately $48.4 million in stolen assets so far and frozen more than $30.5 million across over 28 exchanges and custodians pending further legal and investigative action.

The lawsuit, filed in the US District Court for the District of Columbia, targets the Democratic People's Republic of Korea, its intelligence agency, and Lazarus Group, which US authorities have linked to the attack.