Bybit Launches Historic Offensive Against North Korea: First Ruling Issued After $1.5 Billion Heist
Cryptocurrency exchange Bybit has secured a freeze on stolen assets by filing a lawsuit in the U.S. against North Korea and the Lazarus Group following a massive $1.5 billion cyberattack.
Bybit, the world’s second-largest cryptocurrency exchange, has initiated a landmark legal proceeding following the record-breaking hack it suffered last year. In a lawsuit filed in the U.S. District Court for the District of Columbia, the company targeted North Korea (DPRK), the country’s intelligence agency—the Reconnaissance General Bureau (RGB)—and the cybercrime organization Lazarus Group, holding them responsible for the $1.5 billion theft. This move stands out as one of the most aggressive legal offensives ever launched by a crypto exchange against a nation-state.
In the attack that took place on February 21, 2025, approximately 400,000 Ethereum (ETH) and stETH were stolen. This incident went down as one of the largest heists in cryptocurrency history. According to Chainalysis data, North Korean hackers seized $2.02 billion worth of assets last year alone, bringing their total haul to date to $6.75 billion. It is believed that these seized funds are used to finance North Korea’s weapons programs.
The Largest Legal Offensive in Crypto History
The court issued a preliminary injunction preventing the transfer or sale of the stolen assets during the litigation. This ruling represents Bybit’s first tangible victory in recovering its losses by ensuring the freezing of funds held by unidentified individuals and entities. The exchange announced that it would continue to cooperate with international law enforcement to protect stolen assets and bring those responsible to justice.
Bybit CEO Ben Zhou emphasized that this attack was not just against their exchange, but an assault on the trust of the entire cryptocurrency industry. Stating that their priorities are protecting users and recovering stolen funds, Zhou expressed their commitment to pursuing the legal process to ensure that cybercrimes do not go unpunished. This independent legal battle initiated against such organized attacks, carried out from behind computers in dark rooms, represents a critical turning point for security standards in the sector.