Congress considers letters of marque against global crypto hackers
The $1.5 billion Bybit hack and other major exploits have prompted US lawmakers to turn to a radical plan to combat crypto fraudsters.
Congressman David Schweikert has introduced a bill in the House of Representatives granting the president authority to act against foreign crypto criminals.
Filed as resolution H.R. 4988, the proposal revives the rarely used 18th-century concept of “letters of marque and reprisal,” historically allowing state-sanctioned privateers to attack and capture enemy ships during wartime, giving governments a way to respond to foreign aggression.
Under Schweikert’s plan, this mechanism would extend into the digital realm. The bill would allow private individuals or companies to act on behalf of the United States to recover stolen assets or disrupt cybercriminal operations targeting US interests.
Crypto rangers at America’s service
According to CryptoSlate, these private actors could be authorized to use “all reasonably necessary means” to seize assets or detain foreign individuals, including those tied to state-sponsored cybercrime networks.
“Our current tools are not keeping pace with events. This bill allows us to fight these criminals effectively, hold them accountable, and recover damages on the digital battlefield, using the same constitutional mechanism that once helped protect our nation’s maritime interests,” said Schweikert.
The proposal is currently under review by the House Foreign Affairs Committee and must be approved by both chambers before reaching the president’s desk. If passed, it would establish a completely new framework for US involvement in countering cross-border crypto crime.
This move comes amid growing frustration over high-profile crypto hacks. In 2025 alone, state-sponsored groups like North Korea’s Lazarus Group have carried out massive attacks, including the $1.5 billion Bybit breach in February and further exploits targeting major platforms such as India’s CoinDCX. Law enforcement agencies have struggled to recover stolen investor funds.
As we wrote, Bybit hack: Stolen ETH laundered via DEX and eXch
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