Summary
- Bybit CEO announced plans to launch a reward program for those who help recover the hacked funds.
- Chainflip has taken measures to block fund flows related to the hack, but stated complete blocking is difficult due to decentralized protocol characteristics.
- Bybit revealed they lost Ethereum worth approximately $1.46 billion in a major hack attack.
Bybit CEO Ben Zhou has announced plans to reward those who assist in recovering the hacked funds.
On the 22nd, Bybit CEO Ben Zhou confirmed via X (formerly Twitter) that "We have confirmed some funds are moving to Chainflip, a Bitcoin (BTC) bridge" and called on "crypto bridge operators to help freeze the hacked funds."
He added that "We will announce a reward program for those who help track or recover the stolen funds."
In response, Chainflip announced they have suspended some frontend services related to the hack and taken measures to block fund flows. However, they stated that completely blocking or freezing funds is nearly impossible due to the nature of decentralized protocols.
Previously, global cryptocurrency exchange Bybit suffered a major hack attack, losing approximately 401,347 Ethereum. The damage amounts to about $1.46 billion.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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