Key Takeaways:
- Bybit launched a blacklisted wallets API to aid crypto recovery after a $1.4B hack tied to Lazarus Group.
- White hat hackers can earn up to 10% of recovered funds through Bybit’s bounty program.
- Bybit is working with Singapore law enforcement and the Ethereum Foundation on further recovery efforts.
Bybit has launched a blacklisted wallet API to aid in recovering stolen crypto funds following a major hack linked to the Lazarus Group.
The attack resulted in losses exceeding $1.4 billion, prompting Bybit to enhance its security efforts.
🚨 BYBIT HACK UPDATE: @Bybit_Official Releases Blacklisted Wallets API to Aid Recovery Program
— CryptosRus (@CryptosR_Us) February 24, 2025
Bybit is offering a bounty of up to 10% of the stolen funds for white hat hackers who successfully recover crypto from the Lazarus Group pic.twitter.com/5eLdz3U2xQ
Announced on February 23, the API will help white hat hackers identify illicit wallets, with a reward of up to 10% of recovered funds.
The blacklist will be continuously updated to counter emerging threats.
Bybit CEO Ben Zhou highlighted the industry’s collective effort in strengthening cybersecurity.
At this point is really not about bybit or any entity, it's about our general approach towards hackers as an industry, really hope that @eXch can reconsider and help us to block funds outflowing from them. We are also getting help from Interpool and international regulatory… https://t.co/wRzN925X9l
— Ben Zhou (@benbybit) February 23, 2025
In addition to its bounty program, Bybit is working with Singaporean law enforcement and the Ethereum Foundation to explore further recovery methods.
Arkham Intelligence has also been tracking stolen funds, providing insights into hacker activity.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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