Bybit sues North Korea, Lazarus Group over 1.5 billion dollar hack

Bybit has filed a civil lawsuit against North Korea, its Reconnaissance General Bureau, and the Lazarus Group for the theft of 1.5 billion dollars from the exchange. The lawsuit was filed in the U.S. District Court for the District of Columbia. Bybit secured a preliminary injunction to freeze certain stolen assets held by unidentified individuals and entities, referred to as John Doe defendants. On February 21, 2025, the Lazarus Group allegedly executed the largest cryptocurrency heist, stealing approximately 1.5 billion dollars in Ethereum from Bybit. This hack accounted for a significant portion of the 2.02 billion dollars in crypto stolen by North Korea last year. Overall, North Korean hackers have stolen 6.75 billion dollars worth of crypto. Bybit stated that the injunction aims to preserve the identified stolen digital assets during the litigation process. Ben Zhou, co-founder and CEO of Bybit, emphasized the importance of protecting users and holding attackers accountable. The preliminary injunction prevents the respondents from transferring or selling the assets while the case is ongoing. Bybit noted that this civil action is separate from ongoing criminal investigations by U.S. law enforcement.

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