Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is offering a 10% bounty on recovered funds—potentially up to $140 million—to cybersecurity experts and blockchain analysts who help retrieve stolen assets.
The bounty is linked to the $1.4 billion Ethereum hack, the largest crypto theft ever recorded. Bybit CEO Ben Zhou acknowledged the industry’s overwhelming support, stating:
“We’ve shared in a dark moment of crypto history, but we’ve proven we are stronger than the malicious actors.”
On-chain investigator ZachXBT identified North Korea’s Lazarus Group as the perpetrators, executing the theft in four major transactions:
401,347 ETH ($1.12 billion), 90,376 stETH ($253.16 million), 15,000 cmETH ($44.13 million), and 8,000 mETH ($23 million).
ZachXBT earned a 50,000 ARKM bounty for uncovering how Bybit’s Ethereum (ETH) multisig cold wallet was exploited during a routine transfer to the exchange’s warm wallet.
The attackers manipulated the signing interface, making it display the correct wallet address while altering the underlying smart contract logic. Bybit remains committed to enhancing security and fostering industry-wide collaboration to prevent future attacks.
Image Credit: Pixabay
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