It aims to track and freeze funds linked to the notorious North Korean hacking group, Lazarus.
Through LazarusBounty.com, Bybit is calling on the crypto community to help take down one of the biggest threats to the industry.
Bybit’s Bounty: Tracking, Freezing, and Exposing Lazarus
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.
Join us on war against Lazarus – https://t.co/6DnaH1WTId
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…— Ben Zhou (@benbybit) February 25, 2025
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.
Live Tracking and Future Upgrades: Bybit’s Next Move
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.
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…
— Ben Zhou (@benbybit) February 25, 2025
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.
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