Bybit Declares ‘War’ on Hackers After $1.4B Ethereum Theft

Bybit has taken a bold stand against cybercriminals after losing $1.4 billion in Ethereum to a sophisticated hack last week.

The Dubai-based crypto exchange has now launched a bounty dashboard, allowing users to track stolen funds and report leads.

Bybit’s CEO, Ben Zhou, has openly declared “war” on North Korean hackers, particularly the Lazarus Group, which analysts have linked to the attack.

Over the weekend, Bybit offered a $140 million bounty—10% of the stolen funds—to anyone who helps trace, freeze, or recover assets. As of now, only 3% ($42 million) of the stolen funds have been frozen across various exchanges.

Bybit has also closed the financial gap left by the attack through loans, deposits, and purchases, ensuring the platform remains operational.

This latest hack highlights the ongoing threat of cybercrime in crypto, with North Korean groups stealing over $1.3 billion in 2024 alone. Bybit’s aggressive response signals a new era of transparency and accountability in the industry, where hackers will be tracked, and justice will be swift.