Bybit also secured a preliminary injunction freezing identified stolen assets held by unidentified individuals and entities, named in the case as John Doe defendants.
The court found that “Bybit has demonstrated a likelihood of success on the merits” in its lawsuit, and separately described the February 2025 incident, in granting an earlier temporary restraining order, as “one of the largest cryptocurrency thefts in history.”
The injunction bars the transfer or dissipation of identified assets connected to the case while litigation continues, and Bybit said it intends to seek further judicial relief as proceedings advance.
Ben Zhou
“Our focus has never changed: protect our users first, recover what we can, and make sure the people behind these attacks are held accountable,” said Ben Zhou, Co-founder and CEO of Bybit.
He said the attack was not just against Bybit but against trust in the wider crypto industry, and that the exchange has worked closely with investigators, exchanges, regulators, law enforcement, and now the courts in response.
The civil case runs independently of ongoing criminal investigations by US law enforcement.
Bybit said it continues to share blockchain intelligence and investigative findings with agencies including the FBI to support broader enforcement efforts.
Recovery Efforts Since the Hack
Since the February 2025 attack, Bybit has worked with blockchain analytics firms, exchanges, custodians, and international law enforcement to trace stolen assets and disrupt laundering networks.
The exchange said it has recovered approximately US$48.4 million in stolen assets to date, with a further US$30.5 million frozen across more than 28 exchanges and custodians pending further action.
Those efforts have also supported broader enforcement actions, including Germany’s dismantling of the cryptocurrency exchange eXch and a later German-Swiss operation against Cryptomixer.io, both allegedly used to launder stolen funds.
“The real test comes after the crisis,” Zhou said. “That’s when you show whether your commitment is real.”
Featured image: Edited by Fintech News UAE based on an image via ByBit’s Press Release.
