Bybit has begun an investigation into a massive breach and launched a program to recover stolen assets.
Investigation Begins
According to blockchain transaction data, a Bybit address received 100 million USDT, with 50 million transferred to OTC addresses. Subsequently, the exchange purchased 36,900 ETH. Bybit CEO Ben Zhou stated that ETH will not be used to replace stolen assets.
Bybit's Reward Program
Bybit announced the launch of a 'Recovery Program,' offering a 10% reward for the recovery of stolen funds. The total reward could reach up to $140 million if all assets are recovered.
Experts Weigh In on Security
Cobo co-founder Shenyu shared insights on security issues uncovered by the $1.5 billion breach. He highlighted vulnerabilities in interfaces, multi-sig keyholder issues, and weak hardware wallet security.
Bybit's investigation is ongoing, with the exchange relying on community support to recover stolen funds and enhance security.
