Bybit sues North Korea and Lazarus Group over $1.5 billion hack, secures asset freeze
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
AI-generated summary based on the linked source; not independently verified. This is not investment advice. Verify market-moving details at the original publisher before acting. See our editorial policy, AI content policy, and financial disclaimer.
Summary
Bybit, the second-largest cryptocurrency exchange, has filed a civil lawsuit against North Korea (the Democratic People's Republic of Korea), its Reconnaissance General Bureau (RGB) intelligence agency, and the state-linked Lazarus Group. The lawsuit concerns the Lazarus Group's alleged theft of approximately $1.5 billion in Ethereum from Bybit in February 2025. A U.S. federal court granted a preliminary injunction freezing certain stolen assets linked to the case to prevent their transfer or dissipation during ongoing litigation.
Why it matters
Bybit stated that the injunction is a critical move to preserve stolen digital assets, support international law enforcement investigations, and enforce accountability for large-scale cybercrime. The hack and subsequent legal action emphasize the industry's need to protect user funds, recover stolen assets, and hold perpetrators responsible, given the attack damaged trust in the crypto ecosystem.
Key context
The February 2025 hack by the Lazarus Group, which is linked to North Korea, was reportedly the largest cryptocurrency heist ever recorded. Bybit lost over 400,000 ETH and stETH, amounting to roughly $1.5 billion. This hack alone accounted for most of the $2.02 billion stolen by North Korea-linked hackers last year. North Korea has stolen an estimated total of $6.75 billion worth of cryptocurrency, with proceeds believed to fund its weapons programs. Bybit is pursuing civil litigation independently from ongoing criminal investigations by U.S. law enforcement.
Key numbers and entities
The lawsuit targets the Democratic People's Republic of Korea (DPRK), the Reconnaissance General Bureau (RGB), and the Lazarus Group. The stolen amount is approximately $1.5 billion in Ethereum (over 400,000 ETH and stETH). Overall, North Korean hackers reportedly stole $6.75 billion in cryptocurrency. Ben Zhou, Bybit’s co-founder and CEO, provided statements regarding the case. The lawsuit was filed in the U.S. District Court for the District of Columbia.
What remains unclear
The source does not flag any open questions or limitations in the available information regarding the lawsuit or asset freeze.