Bybit wins court order to freeze $30.5 million in massive crypto hack case

A U.S. federal court has granted a preliminary injunction freezing $30.5 million in digital assets linked to a massive $1.5 billion hack targeting the cryptocurrency exchange Bybit. The assets are tied to a civil lawsuit filed by Bybit against the Democratic People's Republic of Korea, its Reconnaissance General Bureau, and the Lazarus Group.

The hack, which occurred on February 21, 2025, involved the theft of over 400,000 Ethereum tokens. Investigators determined that attackers compromised a developer's computer at Safe{Wallet}, a multi-signature protocol used by Bybit, to insert malicious code that altered a routine transfer and drained the wallet.

While Bybit has recovered approximately $48.4 million and frozen an additional $30.5 million across more than 28 global exchanges, the company reports that roughly 90% of the stolen funds remain untraceable. The attackers utilized mixers, cross-chain bridges, and unregulated trading platforms to obfuscate the movement of funds.

According to blockchain analytics firm Chainalysis, North Korean-linked actors are estimated to have stolen approximately $2.02 billion in cryptocurrency during 2025, a 51% increase from the previous year. The regime's total estimated crypto thefts have reached $6.75 billion, which U.S. officials suggest helps finance weapons programs.