Dubai, United Arab Emirates, February 23rd, 2025, Chainwire

Bybit, currently the world’s second-largest crypto exchange by trading volume, is taking a proactive step in security. They’ve just announced a new API that will update a frequently refreshed blacklist of wallet addresses flagged as suspicious. This powerful tool is designed to empower ethical security experts, enabling them to race against the clock and significantly speed up their efforts to recover funds that have been compromised.

The current blacklist is a testament to the impressive dedication and speed of some of the best cybersecurity minds in the industry. Within just three days of a major crypto theft, these white hat hackers and investigators have compiled this crucial resource. Bybit has also been overwhelmed by the collaborative spirit of the crypto community, receiving thousands of helpful tips from industry colleagues, proving the strength of cooperation even in challenging times.

As dedicated teams both within and outside of Bybit work together tirelessly, an elite task force has successfully confirmed a list of malicious addresses. This list will be made readily available to verified partners through an automated and streamlined interface. This united front aims to simplify the security response process and strengthen the overall security of the entire network.

To ensure that cyber defenders and security partners are always equipped with the latest intelligence to intercept fraudulent activities, Bybit is committed to continuously updating this blacklist. Recognizing the value of successful interventions, Bybit will reward those who successfully intercept fraudulent activity with a significant 10% bounty, further underscoring their dedication to safeguarding the crypto industry as a whole.

Looking to the future, Bybit is excited to announce the upcoming launch of a HackBounty platform, currently in development. This platform is designed to be a game-changer, empowering the entire industry to collaborate and track down hackers more effectively. Security experts and insiders are encouraged to keep an eye out for more details on this innovative initiative soon.

“I am truly inspired by the incredible sense of community and collaboration we’re seeing, both online and offline. This moment has the potential to be a real turning point for our industry, but only if we work together and get it right. United, we can forge a much stronger defense against cyber threats,” emphasized Ben Zhou, co-founder and CEO of Bybit.

Bybit will continue to provide updated lists to support partners in their crucial efforts to intercept fraudulent activities effectively. For every successful interception, a 10% bounty awaits, showcasing Bybit’s unwavering commitment to industry-wide security. Those interested in discovering more about Bybit’s Bounty Rewards Program are encouraged to reach out to: [email protected]

Crypto’s Defense Alliance

These combined efforts are forging a powerful, industry-wide alliance, marking what could be a truly defining moment for the crypto world. Bybit is publicly acknowledging the many individuals, entities, and teams who have generously contributed to this critical mission. This growing “thank-you list” includes, but is certainly not limited to, the following partners and peers:

• Big thanks to Mandiant, Verichain, and Sygnia.co who are providing crucial forensic analysis, diligently working to uncover the specifics of the hack.
• ZeroShadow immediately activated their 24/7/365 Global Response team, working hand-in-hand on Bad Actor Tracing and Identification, Funds Tracing, and Law Enforcement Communications to fully support the investigation and recovery process.
• Chainalysis, Elliptic, TRM, Goplus, SEAL 911, and ZachXBT quickly stepped up to tag exploit-related addresses on-chain, significantly limiting the attacker’s ability to move and launder the stolen assets.
• Expert security advisory services and valuable insights are being provided by SlowMist, BlockSec, and BEOSIN.
• VerifyVASP, AML Bot, and CryptoForensic are contributing essential compliance and risk assessment solutions, significantly enhancing the overall security response.
• Critical cross-chain security measures, vital for stopping the hacker’s movements, are being facilitated by Binance, Coinbase, Bitget, Polygon, Arbitrum, Optimism, Wormhole, Synapse, Connext, Chainflip, Across.to, Symbiosis.finance, AVAX, ChangeNow, fixedfloat, and cBridge.

About Bybit

Bybit stands as the world’s second-largest cryptocurrency exchange in terms of trading volume, proudly serving a vibrant global community of over 60 million users. Since its foundation in 2018, Bybit has been at the forefront of redefining openness within the decentralized space, striving to create a simpler, more open, and equitable ecosystem for everyone. With a strong emphasis on Web3 technologies, Bybit strategically collaborates with leading blockchain protocols to build a robust infrastructure and spearhead on-chain innovation. Widely recognized for its secure custody solutions, diverse marketplaces, user-friendly experience, and cutting-edge blockchain tools, Bybit effectively bridges the gap between the traditional finance world (TradFi) and Decentralized Finance (DeFi), empowering builders, creators, and enthusiasts alike to unlock the vast potential of Web3. To explore the future of decentralized finance, visit Bybit.com.