It is no longer news that several blockchain investigation firms, have linked the Bybit cyber heist to the North Korea hackers group, “The Lazarus Group.” Therefore as part of efforts to prevent the group from wrecking more havoc, Bybit”s Chief Executive Officer (CEO) Ben Zhou launched a new initiative aimed at combating this scamming group.
LazarusBounty.com Begins Operation to Help Mitigate Crypto Hacks
Zhou labelled the new setup LazarusBounty.com. It will be the first of its kind in the crypto industry and will play significant roles stopping the Lazarus Group nefarious acts. By linking their wallets to trace funds, interested individuals will become bounty hunters on the new platform. This makes it possible for them to trace and freeze suspicious funds.
For every suscessful freezing, the hunter and every other entities involved in the operation like exchanges and mixers gets 5% of the bounty. The platform will also contain section that monitors hunters and ranks them based on their performance. Anyone listed as a bad actor had possibly aided suspicious transactions. Hence, the will have to retrace their steps to remove their names from the bad actors list.
Join us on war against Lazarus - https://t.co/6DnaH1WTId
— Ben Zhou (@benbybit) February 25, 2025
Industry first bounty site that shows aggregated full transparency on the sanctioned Lazarus money laundering activities. V1 includes:
- Becoming a bounty hunter by connecting your wallet and help tracing the fund, when…
Ben Zhou Announce Updated Features
In another tweet, Zhou noted that the LazarusBounty.com platform was recently updated with new features to intensify operations. Per the new X post, Zhou mentioned that the platform now has a hacker analysis feature. With this hunters can get a clear picture of how they can step in to stop the suspicious transactions.
Also, Zhou noted that a Discord channel was created for the hunters to submit their bounty. “There is a auto blacklisted address check, if your bounty has already been found by other hunters, you will get a alert before submiting.” Concluding the tweet, Zhou added that so far, the lazarusbounty.com platform has received 2,167 reports, all processed.
