Bybit, the world’s second-largest cryptocurrency exchange, has filed a civil lawsuit against the Democratic People's Republic of Korea (DPRK), its Reconnaissance General Bureau (RGB) intelligence agency and the Lazarus Group, identified as the DPRK-linked hacking group responsible for stealing $1.5 billion from the exchange last year.
In addition to the lawsuit, filed in the U.S. District Court for the District of Columbia, Bybit said it won a preliminary injunction freezing certain stolen assets held by a group of unidentified individuals and entities, named in the case as John Doe defendants, the exchange said in a press release on Friday.
On February 21, 2025, the North Korean state-sponsored Lazarus Group f allegedly executed the largest cryptocurrency heist in history, stealing approximately $1.5 billion in Ethereum (over 400,000 ETH and stETH) from Dubai-based Bybit. The Bybit hack made up a bulk of the $2.02 billion in crypto stolen by North Korea last year. In total, North Korean hackers have stolen $6.75 billion worth of crypto, according to data from Chainalysis. The country is widely believed to use its ill-gotten crypto to fund its weapons program.
“The order is intended to preserve identified stolen digital assets while the litigation continues, representing an important step in Bybit's ongoing efforts to recover funds, support international law enforcement investigations, and reinforce accountability for large-scale cybercrime,” Bybit said in the release.
“Our focus has never changed: protect our users first, recover what we can, and make sure the people behind these attacks are held accountable," said Ben Zhou, co-founder and CEO of Bybit, in a statement. “The Lazarus attack wasn't just an attack on Bybit. It was an attack on trust in our industry. That's why we've worked closely with investigators, exchanges, regulators, law enforcement, and now the courts.”
The preliminary injunction means a federal judge ordered the respondents not to transfer or sell the assets they’re holding while the case is ongoing, Bybit said. The exchange added that it will look for further relief from the court.
“The civil action is being pursued independently of ongoing criminal investigations conducted by U.S. law enforcement authorities,” the firm added.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.