Bybit Launches Recovery Bounty Program with Rewards up to 10% of Stolen Funds

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is calling on the brightest minds in cyber security and crypto analytics to join the global hunt for the perpetrators of crypto’s largest heist.

Galvin Yu

• Updated: Sunday, February 23, 2025, 00:00

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ByBitByBit, the world’s second-largest cryptocurrency exchange by trading volume, is calling on the brightest minds in cyber security and crypto analytics to join the global hunt for the perpetrators of crypto’s largest heist in history. With a reward of 10% of the amount recovered, the contributors stand to share a bounty of potentially up to 140 million USD in value in the scenario of a full recovery.

As part of the investigation and recovery efforts, Bybit is pledging 10% of recovered funds to reward ethical cyber and network security experts who play an active role in retrieving the stolen cryptocurrencies in the incident.

The total amount of the bounty is calculated based on verifiable recovery of the compromised ETH worth over $1.4 billion at the time of the incident.

Bybit values transparency and using blockchain technology for good.

“Within 24 hours of the event, we were overwhelmed with support from some of the best people and organizations in the industry, and we do not take it for granted. We have shared in a dark moment of crypto history, and we’ve proven we are better than the malicious actors,” said Ben Zhou, co-founder and CEO of Bybit. “We want to officially reward our community who lent us their expertise, experience and support through the Recovery Bounty Program, and our efforts to make this difficult lesson a valuable one does not stop here. Bybit is determined to rise above the setback and fundamentally transform our security infrastructure, improve liquidity, and be a steadfast partner to our friends in the crypto community,” he added.

Individuals and organizations interested in participating in the Recovery Bounty Program can contact us via email at bounty_program@bybit.combounty_program@bybit.com

Trust and security are at the core of the crypto industry. As the ecosystem grows, collective action is essential to maintaining its strength. We encourage exchanges, analysts, and the broader community to collaborate in protecting digital assets. Together, we can reinforce security, deter malicious activities, and uphold confidence in the industry.

#Bybit / #TheCryptoArk

This article was originally published on: Feb 23, 2025 at 02:30 AM

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