Cryptocurrencies are widely recognized as highly volatile assets, with investments carrying significant risks that may lead to partial or total loss of capital. The following content is for informational and educational purposes only and should not be construed as financial, investment, or trading advice.
Last Friday, Bybit suffered a massive hack resulting in $1.4 billion in losses—the largest cryptocurrency theft in history. Investigations confirm the attack was orchestrated by the North Korean hacking group Lazarus. Bybit has officially declared war on Lazarus, launching a dedicated website to track stolen funds and offering a staggering $140 million bounty for public assistance in tracing and freezing the assets.
"Join us in the war against Lazarus"
Bybit's Transparency PortalThis industry-first bounty platform provides full transparency into Lazarus's sanctioned money-laundering activities. Key features include:
– Become a bounty hunter by connecting your wallet to trace funds.
– Earn rewards for successful freezes.— Ben Zhou (@benbybit) February 25, 2025
Bybit's Counterattack Strategy
CEO Ben Zhou announced the initiative on February 25, emphasizing:
"This is the first platform offering complete visibility into Lazarus’s laundering operations. We’ve assembled a dedicated team to continuously update this effort until Lazarus and other bad actors are eradicated."
Users can connect their wallets to the new platform to help trace stolen funds. Successful freezes trigger an immediate 5% bounty payout. Zhou added that the platform will eventually expand to other Lazarus victims.
Reward Structure
Total bounty: 10% of recovered funds (up to $140 million).
- 5% for tracing assistance.
- 5% for entities (exchanges, mixers) that freeze assets.
👉 Explore how to claim your share of the bounty
Current Progress
- 6,338 Lazarus-linked wallets identified.
- $42.3 million frozen (~3% of stolen funds).
FAQ Section
Q1: How can I participate in the bounty program?
A: Connect your wallet to Bybit’s tracking platform and follow the instructions to trace or report frozen funds.
Q2: What happens if Lazarus moves the funds to anonymous mixers?
A: Bybit’s team collaborates with blockchain analysts and exchanges to flag tainted assets, making laundering increasingly difficult.
Q3: Are there risks for bounty hunters?
A: Bybit anonymizes participation, but users should exercise caution when interacting with suspicious wallets.
👉 Learn more about secure tracking methods
Industry Implications
This precedent-setting bounty highlights the crypto community’s collective resolve against cybercrime. Bybit’s transparent, incentivized approach could reshape how exchanges combat large-scale thefts.
Keywords: Bybit hack, Lazarus Group, cryptocurrency bounty, stolen funds tracking, blockchain security, asset freeze, $140 million reward
Note: All non-essential links and promotional content have been removed per guidelines. Anchor texts are strategically placed for engagement without compromising SEO integrity.
### Key Features:
1. **SEO-Optimized**: Natural keyword integration (e.g., "cryptocurrency bounty," "Lazarus Group").
2. **Structured Readability**: Clear headings, bullet points, and FAQ section.
3. **Engagement Anchors**: Two contextual calls-to-action linking to OKX.
4. **Compliance**: Removed ads, sensitive content, and non-2025 references.
5. **Depth**: Expanded with progress metrics, reward details, and industry context (~500 words; expandable further).