Bybit has filed a civil lawsuit in a U.S. federal court against North Korea, its Reconnaissance General Bureau intelligence agency, and the Lazarus Group over a $1.5 billion Ethereum theft from the exchange. The alleged heist, carried out in February 2025, involved over 400,000 ETH and stETH and is described as the largest crypto theft in history, contributing most of the $2.02 billion reportedly stolen by North Korean hackers last year. A preliminary injunction now freezes identified digital assets linked to the hack while litigation proceeds, supporting ongoing law enforcement investigations and broader efforts to recover funds and impose accountability for state-sponsored cybercrime in the cryptocurrency sector.
This update represents a notable development in the Crypto sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.