Bybit Launches Global Bounty Program to Recover Funds from Record-Breaking Crypto Heist

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a groundbreaking initiative to combat the largest crypto heist in history. The exchange is calling on global cyber security experts and crypto analysts to join forces in tracking down the perpetrators and recovering the stolen funds. As part of its Recovery Bounty Program, Bybit is offering a reward of 10% of the recovered amount, potentially up to $140 million, to those who contribute to the successful retrieval of the stolen assets.

The incident involved the theft of a significant amount of Ethereum (ETH), valued at over $1.4 billion at the time of the heist. Bybit has emphasized its commitment to transparency and leveraging blockchain technology to address the crisis effectively. The exchange has been overwhelmed with support from industry experts and organizations, showcasing the crypto community’s resilience and solidarity in the face of adversity.

“We are determined to turn this setback into an opportunity to strengthen our security infrastructure and liquidity provisions,” said Ben Zhou, Bybit’s co-founder and CEO. “The Recovery Bounty Program is our way of recognizing the invaluable contributions of our community and incentivizing collective action to protect our ecosystem.”

Individuals and organizations interested in participating in the Recovery Bounty Program can contact Bybit via email at bounty_program@bybit.com. Bybit encourages collaboration across the crypto industry to enhance security measures, deter malicious activities, and uphold investor confidence.

This initiative underscores Bybit’s mission to redefine openness and trust in the decentralized financial space. As a leader in the Web3 ecosystem, Bybit continues to bridge the gap between traditional and decentralized finance, empowering users and builders alike to unlock the full potential of blockchain technology.

For more information about Bybit and its efforts to combat crypto crime, visit Bybit’s official website. Join the conversation on Bybit’s communities and social media channels to stay updated on the latest developments in the crypto space.