Bybit CEO Offers Up to $140 Million in Bounties to Recover Stolen Funds
The post Bybit CEO Offers Up to $140 Million in Bounties to Recover Stolen Funds appeared on BitcoinEthereumNews.com.
TLDR Bybit cryptocurrency exchange was hacked for $1.4 billion on February 21, 2025 CEO Ben Zhou declared “war against Lazarus,” the North Korean hacking group believed responsible Bybit has launched a bounty program offering 5-10% rewards for helping recover stolen funds The exchange claims it has already replaced the stolen crypto assets This hack represents the largest crypto theft in history, far exceeding the $600 million Ronin Bridge hack In what is being described as the largest cryptocurrency theft in history, Bybit exchange suffered a massive security breach on February 21, resulting in the theft of over $1.4 billion in digital assets. The hack, which targeted primarily liquid-staked Ether (STETH), Mantle Staked ETH (mETH), and other ERC-20 tokens, has prompted an aggressive response from the company’s leadership. Bybit CEO and co-founder Ben Zhou took to social media platform X on February 25, announcing a formal “war against Lazarus,” the notorious North Korean hacking group widely believed to be responsible for the attack. “We have assigned a team to dedicate to maintain and update this website, we will not stop until Lazarus or bad actors in the industry is eliminated,” Zhou stated publicly. Join us on war against Lazarus – https://t.co/6DnaH1WTId Industry first bounty site that shows aggregated full transparency on the sanctioned Lazarus money laundering activities. V1 includes: – Becoming a bounty hunter by connecting your wallet and help tracing the fund, when… — Ben Zhou (@benbybit) February 25, 2025 The centerpiece of Bybit’s response is a newly launched bounty program designed to recover the stolen funds. According to the official bounty website, individuals who help freeze illegally moved assets can receive rewards equal to 5% of any recovered cryptocurrency. Some successful recovery efforts may qualify for even higher rewards, with the site stating, “Successful interceptions will be rewarded with…
Filed under: News - @ February 26, 2025 7:22 pm