Bybit launches lawsuit against North Korean hackers as recovery nears $80M

Bybit has taken the February 2025 theft of $1.5 billion in crypto to a US courtroom, filing a civil lawsuit against North Korea and the Lazarus Group. 

So far, it has won a preliminary injunction that freezes the stolen funds investigators can still reach. 

Why is Bybit filing this civil case?

The complaint was filed in the US District Court for the District of Columbia and names the Democratic People’s Republic of Korea, its Reconnaissance General Bureau, and the Lazarus Group, according to Bybit’s press statement. Also named are unidentified individuals and entities holding or moving the money, listed as John Doe defendants.

However, suing a sanctioned state like North Korea may not give the plaintiff the desired result, as there is no one to enforce whatever judgment they receive against them.

Bybit understands this and has found a way around it by adding anonymous wallet holders and intermediaries. This gives it a legal route to identify them and claw back whatever remains traceable. 

The exchange said the court found that “Bybit has demonstrated a likelihood of success on the merits,” and also referenced the theft when it granted a temporary restraining order as “one of the largest cryptocurrency thefts in history.”

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