The Bybit Hackers laundered an additional 45,900 ETH ($113 million) in the last 24 hours.
This takes the total tally of money laundered from the Bybit Hack to 135,000 ETH ($335 million) in less than a week.
The Bybit hackers still have 363,900 ETH ($900 million) in their wallets. The remaining funds will take an average of 8 to 10 days to completely launder, depending on the current pace of the hackers.
Bybit, the second-largest crypto exchange by market share, was compromised on Feb 21. The Dubai-based Crypto Exchange lost $1.46 billion to the hackers suspected to be the notorious Lazarus Group.
At the time of the report, Bybit had only frozen 3% of the funds as the hackers continued to launder the funds.
Lazarus Bounty Program
The Bybit team, in its growing effort to recover looted funds, launched a special bounty program termed the “Lazarus Bounty Program.”
The Bounty Program aims to recover the stolen $1.46 billion by incentivizing the crypto community to track and freeze the hackers’ assets.
The program offers a 5% bounty upfront for anyone who provides information leading to the freezing of stolen funds, paid immediately upon confirmation of the freeze.
For high-value tips that led to a significant asset freeze, the reward increases to 10% of the recovered amount, potentially totaling up to $140 million, given the scale of the theft.
To make the program easy to access, Bybit created a dedicated website, lazarusbounty.com, where participants can connect their wallets and track the 6,338 wallet addresses linked to the Lazarus Group.
Bybit CEO Ben Zhou pledged the initiative as a “War against Lazarus” and promised to expand the platform and make it accessible to future victims of the group.
At the time of the report, efforts through the bounty had already frozen $42.3 million, about 3% of the stolen assets.
The program is supported by veteran onchain investigation entities like Mantle and blockchain investigator ZachXBT.
