Bybit Takes North Korean Hackers to US Court in Historic Crypto Lawsuit

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has taken its fight against North Korean hackers to a US courtroom. The Dubai-based exchange filed a civil lawsuit tied to the Bybit $1.5 billion hack that drained hundreds of thousands of ether tokens from its reserves earlier this year.

The breach occurred on February 21, 2025, when attackers linked to North Korea allegedly executed what has become known as the biggest crypto heist on record. The scale of the theft was staggering: over $1.5 billion in Ethereum-based assets, including more than 400,000 ETH and stETH tokens.

The Lazarus Group's connection to North Korea is well-documented, and this incident cemented its reputation as the group behind the largest cryptocurrency heist ever pulled off. Bybit's lawsuit targets the Democratic People's Republic of Korea (DPRK), its Reconnaissance General Bureau (RGB) intelligence agency, and the Lazarus Group.