Bybit Sues North Korea Over $1.5 Billion Crypto Heist

Bybit has filed a civil lawsuit in the US District Court for the District of Columbia against North Korea, its Reconnaissance General Bureau, and the Lazarus Group over the February 2025 hack that drained $1.5 billion from the exchange.

The FBI attributed the attack to North Korean actors on February 26, 2025, and a federal judge granted Bybit expedited discovery, allowing it to trace stolen funds through US-based platforms.

However, 90.2% of the stolen assets have become untraceable after passing through mixers and cross-chain bridges, with only $75.5 million frozen or recovered so far, which is approximately 5.3% of the total stolen funds.

The lawsuit seeks the return of stolen assets, compensatory damages, punitive damages, and treble damages under the US Racketeer Influenced and Corrupt Organizations Act.