Ben Zhou, CEO of crypto exchange Bybit, has launched an industry-first bounty program
Through LazarusBounty.com, Bybit is calling on the crypto community to help take down one of the biggest threats to the industry.
Zhou’s plan isn’t just talk—it’s a full-fledged effort to expose Lazarus’ money laundering activities. The website offers full transparency, tracking sanctioned transactions and rewarding those who help bring criminals to justice. The goal is clear: make it impossible for Lazarus and other bad actors to move stolen funds undetected.
The bounty system allows users to become crypto detectives by connecting their wallets and submitting intelligence on suspicious transactions. If their leads result in a fund freeze, they receive an upfront bounty. Exchanges, mixers, and other platforms that assist in freezing funds also get a 5% cut of the bounty.
To keep everyone accountable, the platform ranks industry players based on their response times to Lazarus-related transactions. Nobody wants to land on the “bad actor” list, which publicly records those who help facilitate illegal activities.
The initiative also includes a live API to update wallet addresses flagged for illicit activity. Exchanges and blockchain analytics firms like Arkham, Elliptic, and TRM Labs can tap into this data to bolster security measures. This real-time transparency forces the industry to clean house and take a firm stance against financial crime.
This is just Version 1 of the project, but Zhou promises more firepower in Version 2. Upcoming features include live updates on suspect wallets, showing their latest balances and movements. This will allow bounty hunters to “claim” a wallet, track its activity, and earn rewards when frozen funds are confirmed.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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BTCJoin us on war against Lazarus - lazarusbounty.com Industry first bounty site that shows aggregated full transparency on the sanctioned Lazarus money laundering activities. V1 includes: - Becoming a bounty hunter by connecting your wallet and help tracing the fund, when Show more
We only pre entered some of your findings , which might not be full, if you have more, please help to submit a bounty on the site, or send to me through dm, really appreciate your help all the way. We want to give you the full credits for your hard work. The site was built in 2 Show more
