Bybit Sues North Korea for $1.5 Billion Over Asset Theft

Bybit has filed a civil lawsuit in the U.S. District Court against North Korea and the hacking group Lazarus Group. The lawsuit pertains to an attack in February 2025, during which assets worth $1.5 billion were stolen. Bybit has obtained a preliminary court order that freezes identified funds in the hands of anonymous entities. The U.S. court has recognized the incident as one of the largest digital asset thefts, and Bybit has demonstrated a high likelihood of winning. Cooperation with the FBI is ongoing, and the exchange plans further legal actions. So far, $48.4 million has been recovered, and another $30.5 million has been blocked on various platforms. Bybit's strategy sets a new direction in responding to state-sponsored threats, and the situation has far-reaching regulatory implications in many countries. The lawsuit sets a precedent for suing states in civil courts, which comes with challenges due to the immunity of foreign states.

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