Bybit Takes Down North Korea's $1.46 Billion Crypto Heist
Crypto exchange Bybit has taken significant steps to recover and freeze stolen assets following a massive hack in February 2025. The exchange filed a civil lawsuit against North Korea, its intelligence agency, and the Lazarus Group hacking collective in the US District Court for the District of Columbia.
The lawsuit seeks accountability for the $1.46 billion cyberattack that saw approximately 401,346 ETH stolen from Bybit. As a result of the attack, about $48.4 million has been recovered, while another $30.5 million remains frozen across more than 28 exchanges and custodians.
Bybit's co-founder and CEO Ben Zhou stated that the company's focus is on protecting users first, recovering stolen assets, and ensuring those responsible are held accountable. The attack was not only a Bybit problem but also an industry-wide issue, as Zhou emphasized 'it was an attack on trust in our industry.'