This $1.5 billion hack is exposing just how ‘irreversible’ stolen crypto really is
Bybit sued North Korea, its Reconnaissance General Bureau, and Lazarus Group in D.C. federal court and won a preliminary injunction stopping unnamed defendants from moving or selling stolen crypto. The order appears to cover assets identified in court filings, but not necessarily the full $1.5 billion stolen in February 2025. Chainalysis says DPRK-linked hackers typically launder stolen funds through exchanges, bridges, mixers, and services over about 45 days. Industry partners froze $42.9 million early, and mETH Protocol recovered 15,000 cmETH worth nearly $43 million, for about $85.9 million total, or roughly 5.9% of the $1.46 billion stolen. Elliptic says over $1 billion had already moved through laundering before the injunction. The case shows recovery is easiest when stolen assets sit with reachable intermediaries like exchanges, stablecoin issuers, or custodians. Native ETH or Bitcoin in self-custody is much harder to freeze. The lawsuit may become a template for later attempts to seize DPRK-linked funds, though most assets may already be gone.
