Bybit Invites Cyber Experts To Hunt Hackers, Promises IDR 2.3 Trillion Prize

Bybit (photo: app store)

JAKARTA - Bybit says cybersecurity experts and experts around the world are joining them for the search for the biggest cryptocurrencycurrencycurrency perpetrators in history.

The invitation was released after the leading crypto asset exchange and trading platform became a victim of hacking, causing $1.4 billion in Ethereum (ETH) to be stolen.

"Bybit calls on the most intelligent thinkers in cybersecurity and crypto analysts to join global hunting for the biggest cryptocurrencycurrency perpetrators in history," the call reads.

As part of its investigation and recovery efforts, Bybit pledged a reward of 10 percent of the funds recovered to reward cybersecurity experts and ethical networks who played an active role in retaking the stolen crypto set in the incident.

Contributors will share prizes potentially worth up to USD 140 million (IDR 2.3 trillion) in the full recovery scenario. This amount is calculated based on the verifiable recovery of ETH worth more than USD 1.4 billion (IDR 23 trillion) at the time of the incident.

Bybit CEO Ben Zhou said that within 24 hours of the incident, they had received a lot of support from the world's best figures and industries. He was very grateful at the time.

"We have shared in the dark moments of crypto history, and we have proven that we are better than bad actors," Zhou said.

Therefore, as a form of gratitude, through the Bounty Recovery Program, Bybit is determined to address this issue, and change the security of their system.

"Bybit is determined to cope with setbacks and fundamentally change our security infrastructure, increase liquidity, and become a loyal partner to our friends in the crypto community," Zhou stressed.