Bybit Sues North Korea Over $1.5B Crypto Hack

Bybit has filed a RICO (Racketeer Influenced and Corrupt Organizations) lawsuit against North Korea, alleging that the country was involved in a massive $1.5 billion hack on the cryptocurrency exchange.

The lawsuit claims that North Korea used sophisticated hacking techniques to steal funds from Bybit's users in 2019, with some of the stolen assets being laundered through other crypto exchanges and mixed with legitimate transactions.

Bybit is seeking compensation for the losses incurred due to the hack and also wants to disrupt the alleged money-laundering operations by North Korea in the cryptocurrency space.