A US court has ruled in favor of Bybit, clearing the way for the cryptocurrency exchange to pursue a legal bid to recover $1.5 billion in stolen funds. The funds, allegedly stolen in a North Korea-linked cyber heist, are currently being tracked across various platforms with US operations.
The court's decision allows Bybit to initiate expedited discovery, granting the exchange access to account identities, balances, and transaction histories from participating platforms. This move is expected to aid Bybit in identifying potential recipients or custodians of the stolen funds.
In a bid to counter cyber thefts, the cryptocurrency ecosystem has seen increased collaborations between institutions and government agencies to enhance cybersecurity measures.