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

Odaily Planet Daily News Cryptocurrency exchange Bybit announced yesterday the launch of LazarusBounty.com, an industry-first bounty platform for the code-named Lazarus Group, which aims to unite the industry to recover stolen funds on the chain for victims of this illegal hacker group. This move represents a four-pronged attack on crypto crime, adhering to the belief of information transparency, using technical means to expose illegal activities, hold hackers accountable, and improve the protection of digital assets with speed and precision. The core belief of Bybit's move is that comprehensive real-time transparency can empower the community and change the way cybercrime is fought. Bybit makes every action visible and every transaction traceable through 4 layers of defense, ensuring that the truth becomes the strongest weapon against hackers. 1. Comprehensive on-chain security data integration: 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 fight against illegal transactions. 2. Rapidly launch an expert investigation team: When a large-scale security vulnerability is reported, LazarusBounty.com can quickly mobilize blockchain's elite investigators to conduct an investigation, encouraging those who are committed to exposing cybercrime to take positive action. 3. Decentralized Security Alliance Advisor: Bybit invites the chief security officers of major public chains to serve as advisors to build a strong decentralized network to jointly fight cybercrime and strengthen the company's commitment to transparency and responsibility in the blockchain ecosystem. 4. Fair bounty reward system based on contribution: The platform's Hack Leaderboard tracks contributions and distributes 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 flow of illegal funds.