In a bold move to combat the largest cryptocurrency heist in history, Bybit has launched a groundbreaking $140 million recovery bounty program. This initiative aims to mobilize top cybersecurity and crypto analytics experts worldwide to help track down the culprits behind the massive hack that stole over $1.4 billion worth of Ethereum and other assets.
Bybit’s Recovery Bounty Program offers contributors up to 10% of any recovered funds, potentially reaching a total bounty of $140 million if all stolen assets are retrieved. The exchange is leveraging blockchain technology and industry collaboration to enhance security measures and prevent future breaches.
The hack, linked to North Korea’s Lazarus Group, exploited vulnerabilities in Bybit’s multisig wallet infrastructure during a routine transfer process. Despite this setback, Bybit remains committed to improving its security infrastructure while maintaining liquidity for its users.
