Bybit wins U.S. court support to trace $1.5B hack funds

Bybit’s effort to recover assets from the $1.5 billion February 2025 hack has moved deeper into the U.S. court system, with a federal judge granting expedited discovery and later part of the exchange’s request for a preliminary injunction. Summary Bybit secured expedited discovery allowing requests for identities, balances and transaction histories from U.S.-linked platforms. Court records show temporary restraints began June 19, with a partial preliminary injunction July 30. Bybit reports $48.4 million recovered and $30.5 million frozen across 28-plus exchanges and custodians worldwide. Bybit said 90.2% of stolen assets were untraceable when its June complaint was initially filed. The FBI officially attributes the February 2025 theft to North Korean cyber actors called TraderTraitor. Bybit filed the case on June 18 in the U.S. District Court for the District of Columbia against North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants. The exchange’s latest update, published Aug. 7, says about $48.4 million of stolen assets has been recovered, while more than $30.5 million remains frozen across more than 28 exchanges and custodians. That puts...