Overview

• Rep. David Schweikert introduced H.R. 4988, sending the proposal to the House Committee on Foreign Affairs for initial review.
• The measure would let the President issue letters of marque deputizing vetted private individuals or companies to pursue cybercriminals overseas.
• The bill’s text authorizes use of “all means reasonably necessary,” including seizing persons and property outside U.S. borders and targeting foreign governments involved in hostile cyber activity.
• Any letter issued would require a security bond to impose accountability and ensure compliance with its directives.
• The push follows major 2025 crypto thefts linked to groups such as North Korea’s Lazarus Group, including a reported $1.5 billion Bybit exploit, yet the bill’s passage and presidential backing remain unclear.