According to CoinDesk, cryptocurrency exchange Bybit has initiated a campaign against the notorious Lazarus Group following a significant security breach. The exchange has introduced a new website aimed at tracking the group's wallet addresses, encouraging public participation in the investigation. Bybit is offering a 5% reward for any submissions that lead to the freezing of funds.
Bybit's CEO, Ben Zhou, announced this "war against Lazarus" through a social media post, highlighting the launch of what he described as the first bounty site providing full transparency on the sanctioned group's money laundering activities. Zhou emphasized that users can connect their wallets to the website to assist in tracing the stolen funds. He assured that a bounty would be paid immediately once assets were frozen.
Zhou further stated that a dedicated team has been assigned to maintain and update the website, with a commitment to continue efforts until the Lazarus Group and other malicious actors are eradicated from the industry. He also mentioned plans to extend the platform's use to other victims of the Lazarus Group in the future.
Currently, the website is tracking 6,338 addresses linked to the Lazarus Group, with approximately $42.3 million already frozen, representing just over 3% of the stolen assets. The hack, which occurred on Friday, resulted in nearly $1.5 billion being stolen from Bybit, causing a significant impact on the crypto market and leading to a decline in digital asset prices. The attack, attributed to North Korea's Lazarus Group, has been labelled as the largest crypto theft to date.
