Final week, hackers stole round $1.4 billion in Ethereum cryptocurrency from crypto alternate Bybit, believed to be the most important crypto heist in historical past. Now the corporate is providing a complete of $140 million in bounties for anybody who can assist hint and freeze the stolen funds.
Bybit’s CEO and co-founder Ben Zhou introduced the bounty in a put up on X on Tuesday.
On the official website of the bounty, Bybit explains that for each time somebody traces and freezes a number of the stolen funds, 5% of that quantity goes to the one that discovered them and 5% goes to the “entity” that froze mentioned funds.
On the time of writing, thanks to 5 bounty hunters, Bybit has already awarded $4.23 million in bounties, based on the location, whose brand is a knife showing to be stabbing by the top of North Korean chief Kim Jong-un.
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“We won’t cease till Lazarus or unhealthy actors within the business is eradicated. Sooner or later we’ll open it as much as different victims of Lazarus as properly,” Zhou wrote, referring to Lazarus Group, the title that the cybersecurity business has assigned to a broad group of North Korean-backed hackers targeted largely on cryptocurrency thefts.
A number of safety researchers and crypto safety and monitoring companies consider the hackers behind the huge Bybit heist work for the North Korean authorities, which over time has grow to be very efficient at focusing on crypto exchanges and web3 firms, stealing $650 million in crypto in 2024 alone, based on the governments of the USA, Japan, and South Korea.
On Wednesday, Bybit’s Zhou revealed the preliminary outcomes of the forensic investigation into the hack, led by two firms, Sygnia Labs and Verichains. Sygnia concluded that the “root trigger” of the assault was malicious code coming from the infrastructure of SafeWallet, a crypto pockets platform. Verichains mentioned a benign JavaScript file was changed with a malicious model “particularly focusing on Ethereum Multisig Chilly Pockets of Bybit.”
The 2 investigating safety firms concluded that hackers breached a developer’s system at SafeWallet, as the corporate itself confirmed.
