Bybit, a prominent cryptocurrency exchange, recently made headlines with the launch of a new website aimed at combating the activities of the North Korean hacking group known as Lazarus. The website, lazarusbounty.com, is part of Bybit’s strategy to take on the Lazarus group and track their illegal cryptocurrency transactions.
The exchange has partnered with a top crypto intelligence firm to monitor and trace the activities of the Lazarus group, particularly their involvement in the recent hacking incident that resulted in the loss of $1.46 billion worth of Ethereum (ETH) coins from Bybit’s cold wallet. This incident has raised concerns about the security of using multi-signature crypto wallets to store large amounts of cryptocurrencies.
In response to the hacking incident, Bybit CEO Ben Zhou announced the launch of the lazarusbounty.com website on February 25, 2025. The website serves as a platform for the crypto community to join the Lazarus bounty program and help track and freeze the funds stolen by the hackers. The website features a bounty hunting system that allows users to connect their wallets and earn rewards for helping freeze assets linked to the Lazarus group.
Additionally, Bybit has implemented a live ranking system to track and identify good and bad actors based on their response time to sanctioned Lazarus activities. The exchange is also seeking feedback from Crypto X users to enhance the website and make its efforts more impactful in combating crypto bad actors.
In a show of support, Mirana Ventures recently deposited $600 million worth of ETH on the Bybit platform within the last three days, making them the largest depositor since the hack. The company acquired this ETH by selling $500 million in Bitcoin and $100 million in USD through various OTC platforms.
Furthermore, Bybit has successfully registered with the Financial Intelligence Unit (FIU) in India and paid a regulatory fine of $1.06 million for violating India’s Prevention of Money Laundering Act (PMLA). With all services restored for Indian crypto traders, Bybit continues to strengthen its presence in the global cryptocurrency market.
As Bybit remains vigilant in the fight against cyber threats and illicit activities, the crypto community stands united in support of these efforts. The launch of the lazarusbounty.com website marks a significant step towards enhancing security and transparency in the crypto industry.