Hack too much? The Bybit exchange platform, a new alleged victim of the North Korean group Lazarus, counterattack. The company offers premium hunters to participate in the “war against Lazarus” to trace the whitewashed funds by the hackers. A list of “good” and “bad” actors is also offered.
Bybit launches a platform to track Lazarus funds
Bybit was the victim last week of the biggest hack in the history of cryptocurrencies. While $ 1.46 billion in assets flew, the exchange platform could however resume its normal activities. Then she counterattacked yesterday, By offering a program to track the backdrops by Lazarus.
As a reminder, the North Korean group is not at its first attempt: He would have stolen up to $ 6 billion in cryptocurrencies over the yearsto finance the country's nuclear armament program. The program launched by Bybit is therefore not circumscribed to a hack: it invites users to collaborate and share information on all the Blanchis funds by Lazarus.
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Ben Zhou, the CEO of Bybit, split a statement with a resolutely martial tone ::
“”Transparency is not just a principle – it is our most powerful weapon against cybercrime. We take a stand to make sure that each transaction is visible. […] If you fly, you will be identified and justice will be quickly done. »»
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Rewards to help recover stolen cryptocurrencies
Users of Lazarus Bounty can connect their portfolio, submit information and receive rewards if these lead to frost or the seizure of stolen funds. The other functionality, more innovative, is a classification of the actors. Crypto protocols will be assessed according to the speed with which they act to stop the illegal transactions of the Lazarus group.
This last feature aims in particular the EXCH platform. She was accused by Bybit to treat transactions related to Lazarus in a routine wayand especially not to have reacted fairly quickly following the transfer of stolen funds last week. Exch is also at this stage the only one to be listed in the “bad actors” category of the site.
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The platform shows that at this stage, only 3 % of funds stolen by Lazarus hackers were frozen. Among the “good actors” mentioned by Bybit, we find Tether (USDT) which frozen certain cryptocurrencies, or Circle (USDT), which has tracked the funds.
This is the first initiative of such magnitude against Lazarus. Followed for a long time, the group is elusive and remains at this stage extremely effective when it comes to laundering stolen funds. It remains to be seen whether the Bybit platform will grow to really threaten the North Korean hackers.
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Source: Ben Zhou via x
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Journalist at Cryptoast since 2017, I have been passionate about the challenges of decentralization, privacy and regulation. I specialized in the economy and traditional finance by analyzing how the news in this sector influence that of cryptocurrencies, thus offering a unique and enlightened perspective to cryptoast readers.
Marine Debellor
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