In a move reflecting the tumultuous and often absurd nature of our modern existence, Bybit has unveiled a grandiose bounty program flourishing like a lone flower amid a field of weeds, reaching an astounding $140 million as an earnest attempt to trace and potentially reclaim the staggering sum of $1.4 billion that was swindled from them.
This act of desperation comes hand in hand with the recently orchestrated recovery of more than $43 million worth of cmETH and USDT, mere crumbs from the banquet of stolen wealth.
Bybit Enlists the Vigilant Guardians of the Cyber World in a $140 Million Bounty Quest
On the fateful day of February 22, Bybit, in all its frantic glory, announced a Herculean bounty program, beckoning ethical hackers and cybersecurity wizards to wield their skills in the noble pursuit of recovering lost treasures.
In a remarkably optimistic pledge, Bybit has vowed to offer a delectable morsel of up to 10% of the regained funds as a reward. Should they strike gold and reclaim the entirety of the lost riches, the brave souls contributing to this endeavor could bask in the warmth of a whopping $140 million bounty. But, alas, what wealth could possibly compensate for the anguish of loss?
The exchange—the great architect of this initiative—will distribute the bounty to those brave enough to provide crucial intelligence or directly partake in the heroic act of asset recovery. Heroic indeed, as they face the shadowy figures lurking within the digital ether!
Over $43 Million Reapplied to the Realm of Serene Stability
In tandem with the audacious bounty announcement, efforts to reclaim the lost digital souls began to yield results reminiscent of a fable’s denouement. More than $43 million worth of lost digital assets was salvaged from the murky depths, thanks to valiant warriors of the industry banding together to staunch the bleeding of further losses.
The illustrious Mudit Gupta, Chief Information Security Officer at Polygon, stepped onto the stage of awareness, confirming the recovery of 15,000 Mantle Restaked Ethereum (cmETH), basking in the glory of savings worth a princely sum of $43 million. The achievements credited, of course, to the collaborative spirit with the formidable SEAL and Mantle teams.
Gupta pondered aloud, for what is wisdom if not sharing? He explained how they unearthed a security crack within the formidable walls of the protocol, leading to the resurrection of precious assets.
“The prospect of reclamation dawned upon me right after the dastardly act. SEAL adeptly connected me with the Mantle/mETH team, who executed the recovery brilliantly. A heartfelt shoutout to SEAL, Mantle, and the mETH wizards for their swift action,” he declared, his tone as vibrant as an epiphany.
In a separate proclamation, the esteemed Mantle team upheld their guardianship by thwarting the exploiter’s address through the astute implementation of an eight-hour withdrawal delay, bravely blocking malicious transactions while safeguarding the once-broken trust.
Moreover, Tether, the staunch guardian of stability, courageously froze an amount of $181,000 in USDT linked to the malicious hack. Although this may seem but a mere pittance in the grand scheme of colossal losses, the ever-watchful Tether CEO, Paolo Ardoino, emphasized the transformative power of unity in curtailing reproachful financial losses.
“We actively froze 181,000 USDt associated with the ByBit debacle. Though it may not represent monumental riches, it’s earnest labor, and we shall continue our vigilant monitoring,” Ardoino observed, his words dripping with a blend of determination and sardonic wit.
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2025-02-23 15:15