Close Menu
Cryprovideos
    What's Hot

    Ridiculous Principle Behind Ripple Co-Founder's Return Shared by High Govt

    June 25, 2025

    Robinhood CEO Vlad Tanev Says Retail Traders Unfazed by Center East Tensions, Nonetheless Heavy in AI, Crypto, Fintech and Extra – The Day by day Hodl

    June 25, 2025

    Grayscale launches House and Time Belief to seize surging curiosity in information infrastructure

    June 25, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»Bybit unveils bounty platform to sort out crypto crime following huge Lazarus hack
    Bybit unveils bounty platform to sort out crypto crime following huge Lazarus hack
    Crypto News

    Bybit unveils bounty platform to sort out crypto crime following huge Lazarus hack

    By Crypto EditorFebruary 25, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Bybit introduced a bounty platform designed to fight crypto-related crime titled LazarusBounty.com following.

    The initiative employs a structured, four-pronged strategy to figuring out illicit exercise, holding hackers accountable, and enhancing crypto safety. 

    The trouble follows a hack perpetrated in opposition to Bybit on Feb. 21, which resulted within the lack of practically $1.5 billion in Ethereum (ETH) and ETH artificial tokens. In line with blockchain safety agency Elliptic, that is the largest hack in historical past.

    Battle in opposition to Lazarus

    LazarusBounty.com consolidates blockchain safety knowledge from main companies, together with Chainalysis, Arkham, and GoPlus, right into a unified safety repository. This real-time database supplies investigators and the broader group with crucial insights to detect, analyze, and counteract illicit actions. 

    LazarusBounty.com mobilizes blockchain forensic specialists, reminiscent of ZachXBT and Yu Xian of SlowMist, to conduct in-depth investigations when important breaches happen.

    These consultants have forensic instruments and methodologies to hint stolen funds, determine attackers, and coordinate responses with regulation enforcement and affected platforms. The initiative is a proactive deterrent in opposition to cybercrime, strengthening the business’s capacity to reply to safety threats.

    Bybit CEO Ben Zhou mentioned:

    “In in the present day’s blockchain panorama, transparency isn’t only a precept — it’s our most potent weapon in opposition to cybercrime. With LazarusBounty.com, we’re taking a stand to make sure that each transaction is seen and each hacker is held accountable. Our multifive-pronged offensive is a transparent message: if you happen to steal, you’ll be discovered, and justice will likely be swift.”

    Furthermore, LazarusBounty.com has a bounty leaderboard that tracks and rewards contributions primarily based on the effectiveness of efforts to recuperate stolen funds. The positioning catalogs verified intelligence, recognizing safety researchers and moral hackers who assist unmask cybercriminals. 

    An automatic notification system enhances response occasions by instantly alerting exchanges and platforms to freeze illicitly obtained funds earlier than they are often laundered.

    Bybit has additionally assembled a safety advisory board comprising chief safety officers from main blockchain networks. This decentralized council collaborates to boost safety protocols, share intelligence, and reinforce protecting measures throughout the crypto ecosystem.

    Monitoring the funds

    In line with on-chain knowledge highlighted by Arkham, the funds extracted within the Bybit hack are being swapped for Bitcoin (BTC) and DAI through the multichain protocol Thorchain and the OKX Web3 Swap function. To date, the hackers swapped $6.2 million to BTC.

    Blockchain analytics platform SpotOnChain additionally famous that roughly $250 million has already been laundered.

    Because of the construction of the assault and the following laundering course of, analysts suspect that the North Korean Lazarus Group is behind the Bybit hack.

    Elliptic highlighted that Lazarus makes use of numerous layering techniques, together with sending funds by way of quite a few crypto wallets, utilizing cross-chain bridges to switch belongings throughout blockchains, changing belongings through decentralized exchanges or swap providers, and leveraging mixers like Twister Money.

    These methods are meant to purchase time for launderers earlier than trying to money out the illicit funds. Lazarus appears to be presently performing the third step, utilizing multichain options to layer funds.

    Talked about on this article
    Bybit unveils bounty platform to sort out crypto crime following huge Lazarus hackBybit unveils bounty platform to sort out crypto crime following huge Lazarus hack



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Robinhood CEO Vlad Tanev Says Retail Traders Unfazed by Center East Tensions, Nonetheless Heavy in AI, Crypto, Fintech and Extra – The Day by day Hodl

    June 25, 2025

    How the ‘SparkKitty’ Trojan Is Stealing Crypto Pockets Information From Telephones – Decrypt

    June 25, 2025

    Anthony Pompliano’s crypto enterprise buys $386M in Bitcoin

    June 25, 2025

    Israel Arrests Suspected Spies Paid in Crypto

    June 25, 2025
    Latest Posts

    21 Years Later: Michael Saylor Sees Bitcoin At $21M—Particulars

    June 25, 2025

    Anthony Pompliano’s crypto enterprise buys $386M in Bitcoin

    June 25, 2025

    Texas Targets Crypto Crime with New Bitcoin Seizure Legislation: Greatest Chilly Wallets To Keep Protected

    June 25, 2025

    Agency Run by Anthony Pompliano Buys $387,000,000 Value of Bitcoin in New BTC Treasury Technique – The Day by day Hodl

    June 25, 2025

    Wonderful AI Proclaims Adoption Of A Bitcoin Treasury Coverage

    June 25, 2025

    New Bitcoin Whales Are Fueling Market Volatility | Weekly Whale Watch

    June 25, 2025

    Japan Proposes Overhaul to Allow Bitcoin ETFs and Decrease Taxes – Bitbo

    June 25, 2025

    Technique' Michael Saylor Drops One other Cryptic Bitcoin Message

    June 25, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Doodles Rises +1,500% In Each day NFT Gross sales Over Potential Token Launch

    December 21, 2024

    Sarah Pritchard Named Deputy CEO of UK FCA to Oversee Crypto

    June 10, 2025

    Crypto Market Liquidations High $701M as US Strikes Hit Iran's Nuclear Amenities – Decrypt

    June 22, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.