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08/08/2026

Bybit Wins Preliminary Injunction to Freeze Assets Linked to $1.5B Hack

What happened: Bybit, a major crypto exchange, filed a civil suit in the U.

Bybit Wins Preliminary Injunction to Freeze Assets Linked to $1.5B Hack

What happened: Bybit, a major crypto exchange, filed a civil suit in the U.S. District Court for the District of Columbia against North Korea, its Reconnaissance General Bureau, the Lazarus Group, and unnamed defendants over a $1.5 billion theft (over 400,000 ETH) from February 2025. On August 7, 2026, the court granted a preliminary injunction to freeze identified stolen assets, finding Bybit had shown a likelihood of success on the merits. The injunction operates independently of ongoing U.S. criminal probes.

Why it matters: This legal milestone is one of the largest asset freezes in crypto history and signals growing willingness by courts to target state-sponsored cybercrime. However, actual recovery will hinge on tracing funds through intermediaries and exchanges, as enforcement against North Korea remains largely symbolic. Bybit CEO Ben Zhou emphasized user protection and accountability, but the specific amount frozen was not disclosed.

Source: CoinDesk