We welcome more reports, we need more bounty hunters that can decode mixers as we need a lot of help there down the road.”Bybit paid $2.2 million for Lazarus “bounty hunters”Bybit has awarded over $2.2 million worth of funds to 12 bounty hunters for relevant information that may lead to the freezing of the funds, according to LazarusBounty, a website dedicated to tracking Bybit bounty payouts.
Source: LazarusBountyRelated: Bybit exploit exposes security flaws in centralized crypto exchangesThe Bybit attack highlights that even centralized exchanges with strong security measures remain vulnerable to sophisticated cyberattacks, analysts say.“This incident is another stark reminder that even the strongest security measures can be undone by human error,” Lucien Bourdon, an analyst at Trezor, told Cointelegraph.
The CEO wrote in a March 20 X post:“Total hacked funds of USD 1.4bn around 500k ETH.88.87% remain traceable, 7.59% have gone dark, 3.54% have been frozen.”“86.29% (440,091 ETH, ~$1.23B) have been converted into 12,836 BTC across 9,117 wallets (Average 1.41 BTC each),” said the CEO, adding that the funds were mainly funneled through Bitcoin (BTC) mixers, including Wasbi, CryptoMixer, Railgun and Tornado Cash.
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Author / Journalist: Cointelegraph by Zoltan Vardai
The story "Bybit: 89% of stolen $1.4B crypto still traceable post-hack" has 546 words across 19 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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