Dubai, United Arab Emirates, February 22nd, 2025, Chainwire
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 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.
Recovery Bounty Program
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.
How to Get Involved
Individuals and organizations interested in participating in the Recovery Bounty Program can contact us via email at bounty_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
About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.comFor updates, please follow: Bybit's Communities and Social MediaContact Head of PR Tony Au Bybit tony.au@bybit.com
This article was originally published on Chainwire