Hacked Crypto Exchange Bybit Offers $140 Million Bounty to Trace Stolen Funds
Bybit has already paid more than $4 million to bounty hunters who helped trace and freeze some of the stolen funds. The company is now offering a total of $140 million in bounties for anyone who can help trace and freeze the stolen Ethereum cryptocurrency, with 5% of the recovered amount going to the person who found them and 5% to the entity that froze the funds. Bybit's CEO has vowed to eliminate the Lazarus Group, a North Korean-backed hacker group believed to be behind the massive heist.
- The unprecedented scale of the bounty highlights the cat-and-mouse game being played between crypto exchanges and sophisticated hackers, with each side trying to outmaneuver the other in a high-stakes game of cybersecurity.
- Will this significant investment in tracing stolen funds ultimately lead to the collapse of the Lazarus Group's operations, or will it simply allow them to adapt and evolve their tactics?