Bybit Declares 'War' on North Korean Hackers
Cryptocurrency exchange Bybit has declared “war” on North Korean hackers after a hack and theft of $1.4 billion in cryptocurrency. The platform has launched a website where users can help track the stolen funds and the hackers' addresses, receiving a reward (“bounty”) for this, RBC Crypto reports.
Bybit is the second largest crypto exchange by trading volume after Binance. Over the past 24 hours, its trading volume amounted to $4.2 billion, according to CoinMarketCap. The trading platform is popular among Russians – 29% of Bybit's internet traffic in January 2025 came from Russia.
On February 21, the exchange suffered the largest hack in the history of the crypto market. The attackers withdrew about $1.4 billion in Ethereum and other assets from the exchange. Analytical services linked the attack to the North Korean hacker group Lazarus. On February 24, Bybit reported that it had fully restored the stolen funds. This was done through both direct purchase of cryptocurrencies and loans.
On February 26, the exchange announced the launch of the LazarusBounty platform for rewards for the capture or information on North Korean hackers. According to the press release, the service is designed to identify illegal activity, bring attackers to justice, and protect digital assets.
“In today’s blockchain world, transparency is not just a principle, it is our most powerful weapon against cybercrime. <…> We advocate for every transaction to be transparent and every hacker to be held accountable. This is the message: if you steal, you will be found, and justice will be swift,” said the Bybit CEO.
LazarusBounty is integrated with databases from services like Chainalysis and Arkham, and when a breach or hack is reported, the platform “mobilizes blockchain detectives like ZachXBT and SlowMist founder Yu Xian to conduct immediate, thorough investigations,” the announcement said.
On social media, X Zhou called for people to join Bybit in the “war” against Lazarus on the LazarusBounty platform. He explained that those who want to help can connect their wallets and start searching for the stolen assets.
If the funds are successfully frozen, the reward for the search participants is paid automatically. The total reward is 10% of the stolen funds — $140 million. The reward for the returned assets will be distributed as follows: 5% — to the organization that froze the funds, and 5% — to the participants who helped track down these funds.
The site also maintains a rating of “bad” and “good” community members. Among those who cooperate, six companies are noted, including the Bitget exchange, as well as Tether and Circle. The “bad” list includes only the eXch exchange, which refused to help Bybit, recalling the latter’s poor attitude towards itself.
According to LazarusBounty information as of 18:00 Moscow time on February 26, so far 3.03% ($42.3 million) of the stolen funds have been frozen, the issue of freezing 6.74% ($94.1 million) is being considered, and 90.23% ($1.26 billion) is being sought.
Источник: cryptocurrency.tech
