In the wake of what is believed to be the largest crypto heist in history, crypto exchange Bybit has launched a $140 million bounty program aimed at tracing and freezing approximately $1.4 billion in stolen Ethereum.
The bounty, announced by Bybit’s CEO and co-founder Ben Zhou on X (formerly Twitter) on Tuesday, is part of a broader effort to counteract the activities of the Lazarus Group—a North Korean-backed hacker collective accused of targeting cryptocurrency platforms.
Under the new bounty program, 5% of any traced and frozen stolen funds will be awarded to the individual who identifies them, with an additional 5% granted to the entity that facilitates the freeze. At the time of reporting, five bounty hunters have collectively received $4.23 million in rewards. The program’s official site, notable for its provocative logo depicting a knife impaling an image resembling North Korean leader Kim Jong-un, underscores the firm’s determination to hold perpetrators accountable.
“We will not stop until Lazarus or bad actors in the industry is eliminated. In the future, we will open it up to other victims of Lazarus as well,” Zhou stated, emphasizing the company's commitment to dismantling networks that support cybercriminal activity in the crypto space.
Multiple security researchers and crypto monitoring firms have pointed to strong evidence suggesting that the hackers behind the Bybit breach are working for the North Korean government. Governments of the United States, Japan, and South Korea have indicated that North Korean-linked cyber operations stole around $650 million in cryptocurrency in 2024 alone, highlighting the escalating threat facing digital asset platforms.
Preliminary forensic investigations led by Sygnia Labs and Verichains have provided further insights into the hack. Sygnia Labs identified the “root cause” as malicious code originating from the infrastructure of SafeWallet, a crypto wallet platform. Verichains added that a benign JavaScript file had been replaced with a malicious version designed specifically to target Bybit’s Ethereum Multisig Cold Wallet. Both investigations pointed to a breach of a developer’s device at SafeWallet, a vulnerability that SafeWallet has since confirmed.
Bybit’s aggressive bounty initiative marks a significant step in the ongoing battle against cybercrime in the cryptocurrency sector. As efforts intensify to trace and freeze the stolen funds, the program not only aims to recover assets but also sends a strong message to other potential bad actors in the industry.
The Iran-U.S.-Israel conflict is escalating further with missile and drone attacks, expanded strikes on key infrastructure, and growing regional fa...
China and Kenya have agreed to revive a long-delayed railway project, signalling renewed momentum in infrastructure cooperation and a shift towards...
Uzbekistan is hosting the fifth-anniversary Space Technology Conference - Central Eurasia (STC 2026), bringing together more than 400 delegate...
Kazakhstan remains among the least dependent countries in Central Asia on Chinese capital, maintaining a diversified external debt structure and gr...
Heavy rain, flash floods and lightning strikes across Afghanistan have killed 28 people and destroyed hundreds of homes in Kabul, Herat and other p...
U.S. President Donald Trump has said that the U.S is in talks with the new Iranian regime. He said this in a post on his Truth Social account but warned that the U.S. will "Obliterate" Iran's electric and oil facilities if no deal is reached, especially regarding the Strait of Hormuz closure.
NASA is aiming to launch its Artemis 2 mission on Wednesday (1 April), sending astronauts on a 10-day journey around the Moon, officials confirmed. According to the Space Administration, the launch window is due to open at 23:24 GMT, with additional opportunities to 6 April if delays occur.
The Iran-U.S.-Israel conflict is escalating further with missile and drone attacks, expanded strikes on key infrastructure, and growing regional fallout. At the same time, diplomatic efforts to de-escalate began to emerge amid rising global energy and security concerns.
A senior Iranian military officer warned that American troops will become ‘food for sharks’ on Sunday if the U.S. launches a ground offensive in Iran. The threat came as contingents of U.S. Marines began to arrive in the Middle East, with thousands expected to be deployed in the region.
The Israeli military said on Monday that Iran launched multiple waves of missiles at Israel, and an attack had also been launched from Yemen for the second time since the U.S.-Israeli war began on Tehran. It said two drones from Yemen were intercepted early 30 March but gave no further details.
NASA is aiming to launch its Artemis 2 mission on Wednesday (1 April), sending astronauts on a 10-day journey around the Moon, officials confirmed. According to the Space Administration, the launch window is due to open at 23:24 GMT, with additional opportunities to 6 April if delays occur.
The four astronauts selected for NASA’s Artemis II mission have arrived in Florida, entering the final phase of preparations for the first crewed journey towards the Moon in more than five decades
NASA announced on Tuesday it has cancelled plans to deploy a space station in lunar orbit and will instead use components from the project to build a $20 billion base on the moon's surface, while also planning to send a nuclear-powered spacecraft to Mars.
Chinese researchers have announced a major breakthrough in lithium battery technology - a development that could significantly improve the performance, safety and lifespan of batteries used in everything from smartphones to electric vehicles.
NASA’s Perseverance rover has detected what scientists believe may be the underground remains of an ancient river delta on Mars, offering some of the strongest evidence yet that water once flowed across the planet’s surface billions of years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment