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Bybit wins US court order to trace $1.5B North Korea hack funds
Expedited discovery lets Bybit seek account identities and balances from US-based platforms after 90% of stolen assets became untraceable.
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A federal judge has backed Bybit's effort to trace assets stolen in the $1.5 billion North Korea-linked hack, granting the exchange expedited discovery in a sealed lawsuit unsealed Thursday.
The court gave Bybit authority to seek account-holder identities, balances and transaction histories from platforms that operate or maintain infrastructure in the United States. The order, dated June 19, came one day after Bybit filed the lawsuit under seal against North Korea, its Reconnaissance General Bureau, the Lazarus Group and 20 unidentified defendants.
Bybit argued in its complaint that some traceable stolen assets had reached US-based exchanges. The company said those platforms had indicated they would cooperate after receiving a court order.
The judge also issued a temporary restraining order on June 19 that barred the unidentified defendants from transferring certain traceable assets. The court renewed that order on July 16 and partially granted Bybit's request for a preliminary injunction on July 30. Some exhibits and other records remain sealed.