Crypto Hack: Bybit Bounty for $1.4B Theft

Bybit Offers Bounty After $1.4 Billion Ethereum Hack

• Bybit lost over $1.4 billion in Ethereum and related tokens due to a hack.
• The exchange is offering up to $140 million (10% of recovered funds) as a bounty for assistance in asset recovery.
• The hack involved manipulation of a transaction from Bybit’s cold wallet to its hot wallet.
• ZachXBT linked the hack to North Korea’s Lazarus group, connecting it with other attacks like Phemex and BingX.
• Tether froze $181,000 worth of USDT tied to the stolen funds with ZachXBT’s help.

Bybit experienced a significant security breach involving over $1.4 billion in assets, prompting them to offer a substantial bounty for recovery assistance. The incident has been linked to North Korea’s Lazarus group by on-chain analyst ZachXBT, with Tether freezing some associated funds.