Cryptocurrency exchange Bybit is offering up to $140 million to help recover the $1.4 billion worth of Ethereum stolen in Friday’s platform hack.
A day after losing more than $1.4 billion worth of Ethereum and related tokens in a sophisticated hack, cryptocurrency exchange Bybit said early Saturday that it will offer 10% of the recovered funds — up to $140 million — to any on-chain security expert who helps the firm recover its assets.
“In the 24 hours since the event, we have been overwhelmed by the support from some of the best people and organizations in the industry, and we do not take it for granted. We have participated in a dark moment in cryptocurrency history and have proven that we are better than malicious actors,” Bybit co-founder and CEO Ben Zhou said in a statement.
“Bybit is determined to overcome the setback and fundamentally transform our security infrastructure, improve liquidity, and be a steadfast partner to our friends in the cryptocurrency community.”
In what is believed to be the largest cryptocurrency hack of all time based on the value of assets at the time of the attack, over $1.4 billion worth of ETH and stETH were stolen from Bybit on Friday morning.
