Bybit Hack Forensics Report
As promised, here are the preliminary reports of the hack conducted by @sygnia_labs and @Verichains
Screenshotted the conclusion and here is the link to the full report: https://t.co/3hcqkXLN5U
Join us on war against Lazarus - https://t.co/EEkj05V2xZ
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 your submitted bounty leads to freeze, bounty is paid upfront upon instantly at freezing.
-All freezer gets 5% of the bounty, exchange, mixers and all.
- live ranking of good and bad actor and their response time to deal with the sanctioned Lazarus group transactions. You don't want to end up on the bad actor list , it's a record of you helping to facilitate sanctioned transactions.
- Live API wallet address update for exchange, Chainanalysis, @arkham@elliptic@trmlabs
We have assigned a team to dedicate to maintain and update this website, we will not stop until Lazarus or bad actors in the industry is eliminated. In the future we will open it up to other victims of Lazarus as well.
V2 coming up:
-Live update on latest wallet with latest balance, this will serve as open bounty, bounty hunter can claim a wallet and own that part of the journey for x amount of time when the wallet is moving.
-Regulator Tools
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**More idea, feedback welcomed, please leave at comment, a lot more improvement needed**
LET THE HUNTING SEASON BEGIN!
Latest Update: Bybit has already fully closed the ETH gap, new audited POR report will be published very soon to show that Bybit is again Back to 100% 1:1 on client assets through merkle tree, Stay tuned.
Bybit is overwhelmed by all the support that we got from partners and industry friends during last night critical time. Here I want to say thanks to all the friends, partners who offered or helped us in any way or form. I am truly grateful. We will need a lot more help down the road as well. Thank you!
Although it's a tragic event for Bybit, however through this hard time our industry showed strength as we unite together. We can only grow bigger from now on. As a team, we are ready to protect our industry together.
special thanks to @AntalphaGlobal @bitgetglobal @pionex @MEXC_Official @mirana@SoSoValueCrypto@solana@ton_blockchain@Blockchain_UAE@GhafCapital@bitvavocom@tether@GalaxyDigital
12 hr from the worst hack in history. ALL withdraws have been processed. Our withdraw system is now fully back to normal pace, you can withdraw any amount and experience no delays. Thanks for your patience and we are sorry that this has happened.
Bybit will come out with full incident report as well as security measurement in the next few days. I will also personally keep you all posted on any new updates. Thanks to all the clients, friends and partners who have helped and supported us during this excruciation 12 hrs.
The real work has just now started.
From the Sleepless Twelve Hours
Over the past 12 hours, our Bybuddies have worked tirelessly to support our users by:
- Borrowing ETH to facilitate withdrawals
- Increasing liquidity for USDT and USDC
But we weren’t alone. Many industry partners stood by us, working through the night to find solutions.
One of the most brilliant tech experts dedicated hours to identifying the root cause and provided Bybit with the first investigation report. The depth and professionalism of this report are remarkable. He even took the first flight to Dubai on his own initiative to join our security team and assist in the ongoing investigation—purely out of commitment to the industry.
“Just like him, many of our partners stepped up, proving that when the crypto industry is challenged, we come together to fight for it.” 💪💪
- Helen Liu, COO of Bybit
We have reported the case to the appropriate authorities and we will send an update as soon as we have any further information. We have fortunately worked quickly and extensively with on-chain analytics providers to identify and demix the implicated addresses. These actions will mitigate and counter the ability of bad actors in disposing and dumping the ETH on the markets via legitimate marketplace narrowing the available outlets of disposal.
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