Amid recent hacking incidents, Bybit launches Lazarus Bounty, a platform that offers new opportunities to combat threats.
What is Lazarus Bounty?
Following a loss of over $1.4 billion due to hacking, Bybit steps up its fight against cybercrime by launching the Lazarus Bounty platform. Bybit CEO, Ben Zhou, officially introduced this initiative on February 25, 2025, offering rewards for reporting cyberattacks and helping to identify and neutralize transactions related to hacker groups like the Lazarus Group.
How does the new platform work?
Lazarus Bounty provides full transparency and monitoring capabilities for money laundering activities by hacker groups. The platform features a leaderboard for bounty hunters and an API for tracking wallets associated with illegal activities. Information is available to analytic platforms like Chainalysis and TRM Labs. Bybit aims to eradicate the activities of malicious actors in the industry.
Increase in Cyber Attacks in the Crypto Industry
The launch of Lazarus Bounty responds to the significant increase in cyberattacks in the crypto industry. According to Chainalysis, such incidents rose by 21 percent in 2024 compared to the previous year, reaching $2.2 billion. This underscores the importance of collective efforts in combating these threats.
The launch of Lazarus Bounty underscores Bybit's commitment to countering cybercrime in the crypto industry, setting a new security benchmark.
