Bybit
Bybit has been named in 4 documented digital harm incidents. The most common harm domain is Fraud & Financial.
Documented Incidents
4Rise in Deepfake-Enabled Corporate Fraud Costs U.S. Companies $1.1 Billion in 2025
In 2025, U.S. corporations suffered an estimated $1.1 billion loss due to deepfake‑enabled fraud, a threefold increase from the previous year. The article cites a 2019 scam in which a British energy executive wired $243,000 after believing they were speaking with their CEO, and a recent Italian scheme that used a cloned voice of the defence minister to extract nearly €1 million. It explains how executives' public appearances provide training data for attackers, enabling synthetic videos and voice calls that authorize fraudulent transactions. The piece urges companies to develop crisis protocols, tabletop exercises, and coordinated response plans involving legal, cybersecurity, and communications teams.
North Korean Hackers Steal $1.5 B from Bybit Cryptocurrency Exchange
In February 2025, the FBI announced that a North Korean state‑sponsored hacking group, known as TraderTraitor, stole approximately $1.5 billion in virtual assets from the cryptocurrency exchange Bybit. The stolen funds were partially converted into Bitcoin and dispersed across thousands of blockchain addresses. The FBI released a list of Ethereum addresses tied to the actors and urged exchanges, node operators, and other crypto‑service providers to block transactions linked to those addresses, while seeking public tips to help disrupt the laundering of the assets.
Pig butchering ringleader sentenced to 20 years for $73 million fraud operation
Daren Li, a 42-year-old dual citizen of China and St. Kitts and Nevis, was sentenced to 20 years in prison in a California federal court for leading a $73 million "pig butchering" crypto scam. Li and at least eight others created fake cryptocurrency trading platforms and used social media and dating apps to build trust with victims before stealing their money. The scam involved laundering $59.8 million through U.S.-based shell corporations. Li fled the U.S. in December 2025 after removing his electronic ankle monitor, becoming a fugitive. The U.S. Secret Service and other agencies are leading the global investigation into the case. The sentencing comes amid a rise in crypto fraud, with $370 million stolen in January 2026 alone, much of it through phishing scams.
US Treasury sanctions North Korean crypto fraud network funneling $800M to weapons programs
On March 12, 2024 the U.S. Treasury Department, via OFAC, sanctioned six individuals and two companies linked to a North Korean cryptocurrency fraud operation that moved roughly $800 million to support Pyongyang's weapons programs. The network placed North Korean nationals as remote IT workers in Western firms, used stolen credentials to siphon salaries, and converted the funds into crypto through firms such as Amnokgang Technology Development Company and Quangvietdnbg International Services Company Limited. Key perpetrators including Yun Song Guk, Hoang Minh Quang, and others were identified for managing the scheme and processing illicit transactions. The sanctions aim to disrupt the flow of illicit cryptocurrency to the North Korean regime.