Bybit has released a Blacklist API to assist with fund tracking and has launched a Bounty Program.

Article Source: Bybit

Dubai, UAE, February 23, 2025 — Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced the launch of a new API to update a known suspicious wallet address blacklist. This API will assist project teams and security experts in more efficiently tracking and recovering stolen funds in urgent situations.

The list of suspicious addresses was compiled within three days of the hack by industry-leading white-hat hackers and investigators working around the clock. Bybit has received thousands of tips from industry peers, demonstrating an unprecedented level of collaboration in the face of the crisis.

Through the joint efforts of internal and external security teams, an elite investigative team has confirmed a set of malicious wallet addresses. This collaborative effort will significantly enhance security response efficiency and strengthen the overall security of the crypto network.

Bybit will continuously update this blacklist to ensure that network security experts and partners can effectively block illicit activities. For contributors who successfully block and recover funds, Bybit will offer a 10% reward to further highlight its commitment to safeguarding the industry as a whole.

Looking ahead, Bybit is developing the HackBounty platform and will make an announcement at the appropriate time. This platform aims to empower the entire industry to collectively track hacker activities. Bybit encourages all security experts to stay tuned for the latest developments in this innovative initiative.

“I am deeply inspired by the extraordinary spirit of collaboration demonstrated both on-chain and in the real world. With our collective efforts, this will be a turning point for the industry. Together, we can build a stronger network security defense system.” — Bybit Co-Founder and CEO Ben Zhou

Bybit will continue to update the blacklist to help partners intercept illicit fund flows. Contributors who successfully recover funds will receive a 10% bounty reward to encourage industry-wide collaboration in maintaining network security. Security experts interested in this initiative can learn more about Bybit's bounty program by contacting [email protected].

Crypto's Defense Alliance

This operation has led to a historic and comprehensive collaboration in the crypto industry, forming an industry-wide security alliance. Bybit has disclosed a list of individuals, institutions, and teams who have contributed to this emergency action, which is continually being updated. The list includes, but is not limited to, the following partners and peers:

Mandiant, Verichain, and Sygnia.co provide crucial forensic analysis to reveal the truth behind this hacking incident;

ZeroShadow has launched a 24/7/365 global emergency response team to assist in tracking malicious actors, fund flows, and communicate with law enforcement to support investigation and asset recovery efforts;

Chainalysis, Elliptic, TRM, Goplus, SEAL 911, and ZachXBT quickly tag on-chain addresses related to the attack to limit the hackers' ability to launder stolen assets;

SlowMist, BlockSec, and BEOSIN provide professional security consulting and threat analysis;

VerifyVASP, AML Bot, and CryptoForensic contribute crucial compliance and risk assessment solutions to enhance overall security response capabilities;

Binance, Coinbase, Bitget, Polygon, Arbitrum, Optimism, Wormhole, Synapse, Connext, Chainflip, Across.to, Symbiosis.finance, AVAX, ChangeNow, fixedfloat, and cBridge provide cross-chain security measures to help block the flow of hacker funds.

Bybit will continue to collaborate with industry partners to jointly combat hacker activities and strengthen the security defenses of the global crypto ecosystem.

This article is from a submission and does not represent the views of BlockBeats.