Bybit launches industry’s first LazarusBounty.com platform, calling for joint efforts to combat crypto crime

Odaily reported that the cryptocurrency exchange Bybit announced the launch of LazarusBounty.com, an industry-first bounty platform targeting the Lazarus Group. The platform aims to unite industry forces to recover stolen on-chain funds for victims of this illegal hacker group. This represents a four-pronged attack on crypto crime, upholding the belief in information transparency, using technical means to expose illegal activities, hold hackers accountable, and enhance the protection of digital assets in speed and accuracy. Bybit's core belief is that comprehensive real-time transparency can empower the community and change the way cyber crimes are fought. Bybit's 4-layer defense ensures that every action is visible and every transaction is traceable, making truth the strongest weapon against hackers. 1. Integrated on-chain security data: LazarusBounty.com integrates top blockchain security databases (such as Chainalysis, Arkham, and GoPlus) into a real-time security wiki, providing investigators and the community with key insights needed to expose and counter illegal transactions. 2. Rapid deployment of expert investigation team: When major security breaches are reported, LazarusBounty.com can quickly mobilize elite blockchain investigators to conduct investigations, encouraging those committed to exposing cyber crimes to take action. 3. Decentralized security alliance advisors: Bybit invites chief security officers of major public chains to serve as advisors, creating a powerful decentralized network to combat cyber crimes and strengthen the company's commitment to transparency and accountability in the blockchain ecosystem. 4. Fair bounty reward system based on contributions: The platform's Hack Leaderboard tracks contributions and allocates rewards based on the effectiveness of each input in recovering stolen funds, highlighting bounty hunters who actively dismantle criminal activities, while exposing individuals and institutions that facilitate the circulation of illicit funds.