#Cryptocurrency #USA #Bybit #Dubai #LazarusBounty

Bybit's Bold Move to Tackle Cryptocurrency Crime

In a monumental step forward in the fight against cybercrime, Bybit, the world's second-largest cryptocurrency exchange based on trading volume, has announced the launch of LazarusBounty.com. This revolutionary bounty platform is set to make a significant impact on the ongoing battle against cryptocurrency-related crimes. With its focus on transparency and accountability, LazarusBounty.com aims to expose illegal activities, hold hackers accountable, and secure digital assets with unmatched speed and precision.

At the heart of this initiative is an unwavering belief that transparent information empowers the community. Bybit is dedicated to changing the dynamics of cybercrime with real-time visibility into all actions and traceability of every transaction. This strategy ensures that the truth becomes the most powerful weapon against malicious actors.

The Four-Pronged Approach of LazarusBounty.com

The platform introduces a robust four-point offensive against cybercrime that includes:

1. Comprehensive On-Chain Security Data: The foundation of LazarusBounty.com is the integration of leading blockchain security databases into a definitive real-time security wiki. Resources from Chainalysis, Arkham, GoPlus, and other top-tier security firms are consolidated, providing researchers and the community with crucial insights to detect and combat illegal transactions.

2. Immediate Activation of Expert Investigations: In the event of a large-scale breach, LazarusBounty.com mobilizes elite blockchain detectives, such as ZachXBT and Yu Xian from SlowMist, to conduct rigorous investigations immediately. This expert-led approach acts as a rallying cry for those committed to unmasking cybercriminals.

3. Decentralized Security Advisory Council: Bybit has enlisted chief security officers from major public chains to serve as advisors, forming a decentralized network that unites against cybercrime. This alliance enhances the company's commitment to transparency and accountability within the blockchain ecosystem.

4. Merit-Based Reward Scoring System: The platform features a Hack Leaderboard that meticulously tracks the contributions of individuals and assigns rewards based on the effectiveness of their efforts in recovering stolen funds. Verified evidence is documented, putting the spotlight on those actively dismantling criminal operations while calling out those who remain inactive.

A Proactive Stance Against Cybercrime

LazarusBounty.com offers an automated reporting system that triggers immediate recovery measures as soon as the sources of illicit funds are traced. By instantly alerting relevant platforms to freeze or block these assets, the system eliminates delays that manual intervention often causes, underscoring the urgency in the fight against cybercrime.

Ben Zhou, Co-founder and CEO of Bybit, emphasizes the importance of transparency in this new landscape: "In today’s blockchain realm, transparency is not just a principle; it is our most powerful weapon against cybercrime. With LazarusBounty.com, we believe that every transaction should be visible, and every hacker must be held accountable. Our fivefold strategy sends a clear message: if you steal, you will be discovered, and justice will be swift."

Setting a New Industry Standard

The launch of LazarusBounty.com sends a decisive message that stolen funds will not be tolerated for illegal use. This platform stands as a direct challenge to cybercriminals, warning that every attempt to exploit the blockchain for unlawful purposes will trigger a response and that relentless, coordinated action will be taken. Bybit isn’t just challenging cybercriminals; it is setting a new standard for the industry. Rather than waiting for problems to escalate, Bybit is taking the initiative to secure the ecosystem and encourages every vigilant community member to support this mission.

About Bybit

Founded in 2018, Bybit serves over 60 million users worldwide and has redefined openness in the decentralized world by creating a more straightforward, open, and fair ecosystem for everyone. With a strong focus on Web3, Bybit collaborates strategically with leading blockchain protocols to offer robust infrastructure and foster on-chain innovation.

For more information on Bybit and its initiatives, visit Bybit.com.