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Home > Finance > Bybit Releases API of Suspicious Wallet on “Black List” as Part of Recovery Bounty Program

Bybit Releases API of Suspicious Wallet on “Black List” as Part of Recovery Bounty Program

Published by Wanda Rich

Posted on February 24, 2025

4 min read

Last updated: February 25, 2025

Bybit Releases API of Suspicious Wallet on “Black List” as Part of Recovery Bounty Program - Finance news and analysis from Global Banking & Finance Review

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

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a new API updating a black list of suspicious wallet addresses identified so far. The API will allow ethical security experts to race against time to streamline and expedite their efforts in recovering the compromised funds.

The current list of addresses is the result of the tireless work of some of the best white hats and investigators the industry has to offer, within three days of the largest heist in crypto. Bybit has received thousands of tips from colleagues in the industry, demonstrating a remarkable spirit of cooperation in the face of adversity.

As internal and external teams work diligently together, the elite task force confirmed a list of malicious addresses which will be made available to verified partners through an automated interface. This collaborative effort will help streamline the security response and enhance security across the network.

Bybit will continually update this list to ensure cyber defenders and security partners can effectively intercept fraudulent activities. Successful interceptions will be rewarded with a 10% bounty, reinforcing its commitment to securing the industry as a whole.

Looking ahead, Bybit will announce in due time a HackBounty platform currently under development, designed to empower the entire industry in tracking down hackers. Security insiders are encouraged to stay tuned for this innovative initiative.

“I am energized by the incredible camaraderie on-chain and in real life. This can be a transformative moment for our industry if we get it right. Together, we can build a stronger defense system against cyber threats,” said Ben Zhou, co-founder and CEO of Bybit.

Bybit will continually update this list to assist partners in effectively intercepting fraudulent activities. Successful interceptions will be rewarded with a 10% bounty, reinforcing its commitment to securing the industry as a whole. Interested parties may find out more about Bybit’s Bounty Rewards Program by reaching out to: bounty_program@bybit.com

Crypto's Defense Alliance

The concerted efforts have formed an industry-wide alliance in one of crypto's defining moments. Bybit has shared a list of individuals, entities, and teams who have contributed to the Hail Mary mission. The "thank-you list" includes but is not limited to the following partners and peers and is growing by the hour:

Mandiant, Verichain, and Sygnia.co are providing crucial forensic analysis, and uncovering the facts behind the hack incident.
ZeroShadow activated its 24/7/365 Global Response team, collaborating closely on Bad Actor Tracing and Identification, Funds Tracing, and Law Enforcement Communications to support the investigation and recovery efforts.
Chainalysis, Elliptic, TRM, Goplus, SEAL 911, and ZachXBT swiftly tagged exploit-related addresses on-chain, restricting the attacker’s ability to launder stolen assets.
SlowMist, BlockSec, and BEOSIN delivered expert security advisory services and insights.
VerifyVASP, AML Bot, and CryptoForensic contributed critical compliance and risk assessment solutions, enhancing the overall security response.
Binance, Coinbase, Bitget, Polygon, Arbitrum, Optimism, Wormhole, Synapse, Connext, Chainflip, Across.to, Symbiosis.finance, AVAX, ChangeNow, fixedfloat, and cBridge facilitated essential cross-chain security measures, and stopping the hacker.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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Contact

Head of PR

Tony Au

Bybit

tony.au@bybit.com