Bybit has launched a new API designed to expedite the tracking and blocking of fraudulent activities with an updated blacklist of suspicious addresses.
Bybit's New API: Strengthening Security
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has released a new API to update a blacklist of suspicious addresses. This move aims to expedite efforts to recover compromised funds following one of the largest heists in the crypto industry. The new system enables ethical security experts to quickly identify and block illegal activities.
Partnership for Security
To effectively combat fraud, Bybit has partnered with leading companies and security specialists. With support from partners like Mandiant, Verichain, and Sygnia.co, the Bybit team works on uncovering facts about the hack and recovering stolen assets.
Bybit's Future Plans
Looking ahead, Bybit plans to develop and launch the HackBounty platform to track down hackers. The initiative aims to harness industry efforts to build a more robust defense mechanism against cyber threats.
The launch of the new API and subsequent Bybit initiatives demonstrate its commitment to enhancing market security and protecting stakeholders' interests.
