Bybit Sues North Korea and Lazarus Group Over $1.5bn Crypto Theft

Bybit has filed a civil lawsuit in the US District Court for the District of Columbia against the Democratic People’s Republic of Korea, its Reconnaissance General Bureau, and the Lazarus Group, the state-linked hacking collective that US authorities say orchestrated a February 2025 cyberattack against the exchange. Alongside the filing, Bybit has secured a preliminary injunction freezing identified stolen assets held by unnamed defendants who have been moving or holding those funds.

The court, in granting an earlier temporary restraining order, described the incident as “one of the largest cryptocurrency thefts in history.” The district court has also found that “Bybit has demonstrated a likelihood of success on the merits,” a significant procedural milestone that bolsters the exchange’s position as the civil proceedings advance.

The legal strategy

The civil action runs in parallel with, but independently of, criminal investigations being conducted by US law enforcement. Bybit says it is cooperating closely with the FBI, sharing blockchain intelligence and investigative findings. The preliminary injunction prohibits the transfer or dissipation of specifically identified assets while litigation continues, and the company says it intends to seek additional judicial relief as the case progresses.