Bybit launches a $140M bounty program, rewarding ethical hackers for recovering stolen crypto. The initiative strengthens security, transparency, and industry trust.
Bybit has announced a $140 million bounty program to recover stolen cryptocurrency assets. The company works with ethical hackers and cybersecurity professionals to recover funds compromised through its platform. Bybit provides an incentive program that distributes 10% from recovered funds as a reward to those who participate. The recovered assets have an estimated worth of $1.4 billion so the total bounty amount could become $140 million.
The exchange maintains strong commitments to both security along with transparency of its operations. Bybit supports blockchain technology as well as industry collaboration to restore trust in the ecosystem. The response is considered vital for crypto-security enhancement while fighting the aftereffects of the breach.
Bybit’s chief executive officer Ben Zhou thanked the experts who showed support to the platform. Many professionals and organizations provided support to the platform starting from the first 24 hours after it occurred. The company continues to focus on enhancing security measures because of the valuable help they received and remains thankful to all supporters.
Bybit $140M Bounty Aims to Strengthen Crypto Security
The incident serves Bybit as an opportunity to learn for growth. The company devotes its resources to upgrade its security systems and boost its transaction speed capacity. The organization works to establish new safeguards that will stop potential future incidents. Zhou assured bybit will conquer this recent setback while remaining devoted to create a trusted platform for its users.
Multiple cybersecurity professionals from around the world will likely show interest in the bounty program. The recovery efforts for this attack will most probably involve ethical hackers and blockchain analysts. Bybit holds strong optimism about the future success of this initiative as the company stays dedicated to continue working with members of the crypto community.
Bybit avoids providing additional information regarding its security platform enhancements. Users can feel confident that the platform will receive extensive improvements because the company has made reassurances. The crypto sector keeps watch on Bybit’s actions because their security response may determine upcoming industry standards.
The company presents this initiative as evidence of its ability to recover from difficulties. The firm believes it can successfully recover missing funds while developing a more secure platform. The effectiveness of the program will become clearer in the coming weeks, as efforts to track and retrieve stolen assets continue.
