Bybit Sues North Korea Over $1.5B Cryptocurrency Heist

The cryptocurrency exchange Bybit has taken legal action against North Korea in the US federal court following a $1.5 billion cryptocurrency theft in February 2025.

The security breach occurred when attackers penetrated Safe Wallet's cloud computing systems using stolen authentication credentials, facilitating the large-scale asset extraction.

According to Bybit, 90.2% of the stolen digital assets had disappeared from traceable blockchain pathways due to sophisticated laundering techniques employed by the perpetrators.

A federal judge granted expedited discovery rights to Bybit, allowing the platform to track stolen cryptocurrency across US-registered services and freeze identifiable stolen holdings controlled by unnamed defendants.