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Bybit Offers $140M Bounty to Combat Lazarus Group

Bybit CEO Ben Zhou announced the launch of the first-ever bounty site to transparently expose the money laundering activities of North Korea's Lazarus Group. The total bounty is worth $140 million, equivalent to 29% of the stolen funds. According to Zhou, the site will aid in tracking the stolen funds, where participants can receive a reward for successfully freezing the assets. Each successful participant will receive 5% of the bounty.

To date, approximately $4.2 million has been awarded to five bounty hunters, including Mantle Network, ZachXBT, Zeroshadow, and Binance. Unfortunately, in the past three days, Lazarus Group has successfully laundered $94.1 million through eXch, a Belize-based cryptocurrency exchange.

On the other hand, to strengthen its position after the hack, Bybit has purchased over 212,100 Ethereum (ETH) worth $574 million through an OTC platform to repay previously borrowed funds.