Bybit Willing to Pay Up to $140 Million for Refund
Bybit has called on cybersecurity and crypto experts to join in tracking down the criminals behind the largest-ever CEX hack, a hack on the platform that resulted in the loss of $1.5 billion in Ethereum.
A 10% reward on the amount recovered will allow program participants to potentially receive up to $140 million if their assets are fully recovered.
“Within 24 hours of the incident, we received support from the best people and organizations in the industry, and we don't take that for granted. We survived a dark moment in crypto history and proved that we are better than the bad guys,” Bybit CEO Ben Zhou said.
Recovery Bounty Program
As part of the investigation, Bybit has committed to paying 10% of the recovered funds as a reward to ethical network security experts. This applies to specialists who play an active role in the recovery of assets stolen as a result of the incident.
The total reward amount is calculated based on the confirmed recovery of $1.5 billion worth of compromised Ethereum at the time of the incident.
The company noted that Bybit values transparency and the use of blockchain technology for good.
“We want to formally reward our community who have provided us with their knowledge, experience, and support through the Recovery Bounty Program. Our efforts to make this difficult lesson valuable do not end here. Bybit intends to rise above the setback and fundamentally change our security infrastructure, improve liquidity, and be a trusted partner for our friends in the crypto community,” added Ben Zhou.
How to participate
Individuals and organizations interested in participating in the Recovery Bounty Program may contact the company via email at [email protected] .
The Bybit team emphasized that trust and security are at the core of the crypto industry. As the ecosystem evolves, collective action is needed to maintain its strength, the developers believe.
The platform called on exchanges, analysts, and the wider community to collaborate on protecting digital assets. Together, they said, the industry can strengthen security, prevent malicious activity, and maintain trust in the industry.
Источник: cryptocurrency.tech
