Bybit provides a $ 140 million bonus such as the historical hacking transfers.
Bybit faced one of the largest security violations in the history of encryption, but instead of standing alone, the exchange witnessed an extraordinary wave of support at the industry level. According to the exchange of the stock exchange, more than $ 1.4 billion in liquid and Megaeth (METH) was lost due to security breach.
The main players gathered in the central and intense financing to contain the attack, prevent the movement of funds, and support the recovery process. This collective effort emphasizes the flexibility of the encryption industry and its commitment to security.
In response, the Bounty Recovery program also launched $ 140 million, offering incentives to experts who help tracking and recovering stolen assets.
An immediate procedure to contain the breach
The moment by by the attack the attack, its security team quickly closed the system, the user’s guaranteed money, and coordinated it with the highest cyber security companies. The names of the main industry, including Antalpha Global, Bitget, Pionex, Mexc, etc., interfered for help.
Alalert 🚨 has discovered an unnatural activity, including suspicious behavior that involves @bitbit_official wallet!
Many portfolios offer very suspicious patterns, and we are actively communicating with exchange to warn them. The total affected assets are … pic.twitter.com/iaqQlgu4rf
Blackchain security companies associated with exploitation, which prevents unauthorized money transfers. Chainalysis quickly identified Hacker, allowing the broader community to track the movements in actual time.
“Within 24 hours of the event, we were immersed from some of the best people and institutions in the industry, and we do not consider it an emotional matter. Microbial actors.
“We want to formally reward our society to lend their experience and experience and support through a reward recovery program, and our efforts to make this difficult lesson not stop here.”
As part of the investigation and recovery efforts, the BYBIT pledges 10 % of the recovered money to reward Caperan security experts and moral networks who play an active role in recovering the coded currencies in the accident.
Read more here: https://t.co/dckstnmvo
Enhancing the future of encryption security
In addition, Zero Shadows activated a response team around the clock throughout the week to help track the bad actor, recover funds and coordinate law enforcement. Crypting leaders enhance the stability of the market. Despite the uncertainty, the BYBIT clients, including the markets of Wintermute, Cumberland and GSR, maintained trading sites, preventing panic in the market.
Bybit has announced a $ 140 million BYBIT program to recover stolen assets, the recovery reward program, as it provided 10 % of the recovered funds for security experts who contribute to tracking and restoring lost assets.
With more than $ 1.4 billion in risk funds, bonuses can reach $ 140 million of rewards. Bybit calls on moral, analysts and Blockchain investigators to join the initiative.
Bybit is still committed to transparency, and promising continuous updates as it enhances security infrastructure and enhances defense mechanisms at the level of industry.
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