Bybit Launches Community Effort To Fight North Korean Hackers Lazarus Group After $1,400,000,000 Heist

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The Bybit CEO is launching a new initiative that calls on the crypto community to help retrieve digital assets stolen by a notorious group of North Korean hackers.

Ben Zhou, Bybit’s co-founder and CEO, says on the social media platform X that they have launched a bounty program website to target the Lazarus Group after the cybercriminal outfit is believed to have stolen $1.4 billion in digital assets from their platform last week.

“Join us on war against Lazarus: http://lazarusbounty.com.

Industry first bounty site that shows aggregated full transparency on the sanctioned Lazarus money laundering activities…

Becoming a bounty hunter by connecting your wallet and help tracing the fund, when your submitted bounty leads to freeze, bounty is paid upfront upon instantly at freezing. All freezer gets 5% of the bounty, exchange, mixers and all.”

Zhou also says they have assembled a team dedicated to keep the website current, and may expand it to include other victims of the Lazarus Group’s illicit activities.

“We have assigned a team to dedicate to maintain and update this website, we will not stop until Lazarus or bad actors in the industry is eliminated. In the future we will open it up to other victims of Lazarus as well.”

According to the crypto analysis firm Arkham, the attackers siphoned about $1.4 billion in Ethereum (ETH) and Lido Staked Ether (STETH), making the incident the largest known heist in crypto history.

Lazarus most likely compromised the exchange’s ETH wallet directly through Safe, the crypto wallet that Bybit was using, by accessing its Amazon Web Services (AWS) bucket, according to the Bybit CEO.

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