Bybit Sues North Korea and Lazarus Group Over $1.5 Billion Hack, Secures Asset Freeze
Core Summary Cryptocurrency exchange Bybit has filed a lawsuit against North Korea’s Lazarus Group hacking organization and the Democratic People’s Republic of Korea, seeking to recover approximately $1.5 billion in losses from an earlier hack this year. A court has granted a preliminary injunction freezing assets linked to the stolen funds, marking one of the largest legal recovery actions in crypto history. Event Details According to CoinDesk, Bybit suffered one of the largest hacks in crypto history earlier this year when attackers used sophisticated social engineering and technical methods to breach the exchange’s hot wallet system, stealing approximately $1.5 billion in crypto assets. After months of investigation, Bybit confirmed the attack was orchestrated by the North Korea state-sponsored Lazarus Group. ...