Bybit has announced a bounty program offering up to 10% of the stolen funds, approximately $140 million, to white hat hackers as it seeks to recover assets stolen in a recent $1.4 billion hack attributed to the North Korean Lazarus Group. Following the breach on February 21, Bybit has experienced a significant drop in total assets, falling by over $5 billion. Despite this, independent audits confirmed that Bybit's reserves still exceed its liabilities, ensuring user funds are secured. Bybit's CEO Ben Zhou reassured users that all other cold wallets remained safe and there were no plans to halt withdrawals, with the exchange processing pending transactions actively. Zhou emphasized ongoing discussions with law enforcement and prominent figures, including Ethereum's Vitalik Buterin, to strategize on fund recovery. The hack primarily affected liquid-staked Ether and ERC-20 tokens, with Tether also intervening by freezing 181,000 USDt linked to the incident.

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