Just In: Bybit Launches $140M Recovery Bounty for Crypto Hack Investigation

Bybit has announced a $140 million Recovery Bounty Program. The initiative seeks to enlist cybersecurity and crypto analytics experts to track down the perpetrators of the largest crypto heist in history. Contributors stand to earn up to 10% of the recovered funds, potentially amounting to $140 million if the full sum is retrieved.

Bybit Launches $140M Recovery Bounty for Crypto Hack

Bybit’s Recovery Bounty Program aims to encourage ethical cybersecurity professionals to assist in recovering the stolen funds. The exchange has pledged 10% of any recovered assets as a reward for those who actively contribute to the investigation.

The total bounty amount will depend on the verified recovery of the stolen Ethereum, valued at over $1.4 billion at the time of the incident. Bybit is focusing on transparency and the positive use of blockchain technology to address the situation.

“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,” stated Ben Zhou, co-founder and CEO of Bybit. He emphasized the platform’s commitment to improving security and liquidity while continuing to support the crypto community.

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