Bybit Offers $140 Million Bounty to Uncover Hackers Bybit, a prominent cryptocurrency exchange, recently experienced a significant security breach resulting in the theft of approximately $1.4 billion in Ethereum. In response, the company has launched a Recovery Bounty Program, offering rewards of up to 10% of any recovered funds, totaling up to $140 million. This initiative aims to incentivize cybersecurity experts, analysts, and blockchain investigators to assist in tracing and retrieving the stolen assets.
The hack, attributed to North Korea's Lazarus Group, is considered the largest cryptocurrency theft in history. Bybit's CEO, Ben Zhou, has vowed to take action against those responsible, emphasizing the company's commitment to security and collaboration with the broader crypto community.
As of the latest updates, over $4.2 million has been awarded to five bounty hunters who have contributed to the recovery efforts. The FBI has also identified North Korean-backed hackers as the perpetrators of the theft, which has raised concerns about the laundering of the stolen funds across multiple blockchains.
Bybit's proactive approach underscores the industry's dedication to combating cyber threats and protecting user assets.
