Bybit Launches Website to Track Wallets Tied to Lazarus Group After $1.4 Billion ETH Theft
Bybit has launched an unprecedented website aimed at tracking wallets associated with the North Korean hacker group Lazarus, following a massive $1.4 billion ETH theft on Friday. This platform centralizes investigation efforts and encourages the crypto community to contribute to fund recovery.
To incentivize collaboration, Bybit is offering a 5% reward on frozen funds to anyone submitting wallet addresses leading to the freezing of assets linked to the hackers. Currently, 6,338 addresses associated with the Lazarus group are being monitored on the platform, and $42.3 million has already been frozen, approximately 3% of the stolen amount.
A Public Offensive Against Lazarus
Ben Zhou, CEO of Bybit, announced this initiative via a social media post, referring to it as a ‘war against Lazarus’. He emphasized the complete transparency of the process, stating that the bounty site is the first of its kind to centrally expose Lazarus’ money laundering activities.
We have assembled a dedicated team to maintain and update this website. We will not stop until Lazarus and malicious actors in the industry are eradicated.
He also indicated that the platform could be expanded to include other Lazarus victims in the future.
Users can connect their wallets to the site to track the movements of the stolen funds and submit suspicious addresses. Once a reported address leads to frozen assets, the reward is immediately paid out.
A Historic Hack with Major Consequences
The Bybit hack has shaken the entire crypto market, resulting in a significant drop in digital asset prices. The attack, attributed to the Lazarus group, is widely regarded as the largest cryptocurrency theft of all time.
With this groundbreaking initiative, Bybit aims not only to recover a portion of the stolen funds but also to deter future attacks by actively involving the community. This operation marks a new era in the fight against crypto cybercrime, where transparency and collaboration become strategic weapons against persistent threats.
