Bybit’s New Bounty against Lazarus Group
Bybit has declared a “war against Lazarus” and unveiled a new website dedicated to monitoring the wallet addresses linked to the notorious group. The platform aims to source community support to recover assets lost in a recent hack that cost the exchange approximately $1.5 billion.
Key Updates:
- Bybit is providing a 5% bounty for users who identify wallet addresses leading to frozen funds.
- The initiative has already tracked 6,338 addresses associated with Lazarus and successfully frozen approximately $42.3 million, equating to about 3% of the total stolen assets.
Zhou stated that the firm is taking actionable steps by launching the first transparency-driven bounty platform focused on mitigating the group’s money laundering activities. During this endeavor, users can cooperate by linking their wallets to aid in tracking the stolen money.
“We have committed a team to consistently update this site and will continue our efforts until the Lazarus group and any related threats are handled. In the long run, this platform will extend its reach to help other victims connected to Lazarus,” Zhou added.
This announcement follows the unprecedented hack of Bybit, which has unsettled the cryptocurrency markets and caused widespread declines in digital asset prices. The involvement of North Korea’s Lazarus Group in this incident marks it as potentially the largest theft in cryptocurrency history.
