Bybit Launches $140 Million Bounty to Combat Lazarus Group Hackers

Bybit has launched a bounty program to combat the North Korea-backed Lazarus Group responsible for a $1.4 billion hack. Key details include:

• The initiative is hosted on Lazarusbounty.com, focusing on transparency in money laundering activities.
• A total bounty of $140 million, 29% of stolen funds, will be awarded to participants tracing the stolen assets.
• As of now, $4.2 million has been distributed among five bounty hunters, while $94.1 million has been laundered by the Lazarus Group via eXch exchange.
• Participants need to connect their wallets to trace funds and may receive an upfront reward of 5% for successful contributions.
• Bybit has purchased over 212,100 ETH worth $574 million through OTC platforms following the hack.
• After a temporary closure, Bybit has resumed operations in India with regulatory approval.
• The Lazarus Group has stolen over $3.4 billion in the past two years.