cyrpto 1.4b, Bybit, Lazarus, offensive, saga, takes Mark February 25, 2025 0 Comments

Bybit takes the offensive against Lazarus in $1.4b saga

Bybit, based in Dubai, has strengthened its position against the Lazare group with a new premium program for protocols and initial costs for anyone helps recover stolen funds.

The CEO of Bybit, Ben Zhou, announced that the exchange of cryptocurrency offers a 5% bonus to other platforms, cryptocurrency mixers or individuals who are freezing stolen assets last week.

The first iteration of Lazarusboundy.com Allows anyone to connect as a premium hunter using a cryptocurrency wallet. It also offers a live ranking of good and bad actors, with their response times registered publicly.

“You don’t want to end up on the list of bad players. It is a record to help you facilitate sanctioned transactions, “said Zhou.

Join us for the war against Lazarus – https://t.co/6dnah1wtid
The first premium site in the industry which shows an aggregated total transparency on the sanctioned activities of money laundering in Lazarus. V1 includes:
– Become a bonus hunter by connecting your wallet and helping the background tracing, when …

– Ben Zhou (@benbybit) February 25, 2025

Bybit has lost more than 400,000 ether (Ethn) worth almost 1.5 billion dollars last Friday in what could be the greatest financial feat in history. The attack came from a diverted multi-signature transaction, and the Blockchain Zachxbt ‘investigator identified the Lazare group in North Korea as an author.

The Elliptic blockchain analysis company noted that Lazarus had initiated phase two of its laundering process, spreading illicit gains through several wallets and punching the active ingredients to other blockchains such as Bitcoin.

The cybercriminal organization also uses non -kYc services as Exch to anonymize transactions. exchange Refused That Lazarus was whitening the assets stolen by its Bybit via its platform. However, Zachxbt continued to investigate the protocol, highlighting questionable practices by the service.

A good job overall with the site so far, I like the way it highlights the bad players as Exch who continue to let the Lazare group whiten the funds as a centralized service while invoicing costs students.

– Zachxbt (@zachxbt) February 25, 2025

While the appeal has deployed various recovery tactics, the exchange has already covered the losses through loans and strategic partnerships. The withdrawal processing times have returned to normal despite congestion following the attack.

So far, Bybit has recovered $ 43 million, with the help of Mantle, Methamphetamine developers, and Seal 911, a coalition of white cat safety professionals. Tether also helped freeze $ 181,000 in stolen funds in his stablecoin usdt (USDT).