UPDATE: Bybit wins U.S. court approval to trace $1.5 billion North Korea-linked hack; reports say 90% of stolen funds already untraceable

A U.S. court order enabling Bybit to trace a reported $1.5B North Korea-linked hack supports enforcement and potential recoveries, but claims that ~90% of funds are already untraceable underscore limits of post-incident asset recovery. The headline reinforces counterparty and operational risk around centralized exchanges, and may raise near-term caution across crypto liquidity venues and related risk assets.