In a bold move shaking up the cryptocurrency landscape, Bybit has rolled out a groundbreaking blacklisted wallets API on February 23, 2025, aimed at accelerating crypto recovery efforts following one of history’s largest digital heists. This innovative tool targets the $1.4 billion in Ethereum snatched by North Korea’s notorious Lazarus Group on February 21, 2025, from Bybit’s multisig cold wallet. The API empowers ethical security experts—aka white hat hackers—to track and intercept suspicious wallet addresses linked to the theft, offering a tantalizing 10% bounty on recovered funds, potentially up to $140 million.
The announcement comes as Bybit, the world’s second-largest exchange by trading volume, doubles down on its crypto recovery mission after the hack triggered a $5.5 billion withdrawal frenzy. The API, which will be continuously updated, provides real-time data on blacklisted wallets, giving cybersecurity pros a fighting chance to outmaneuver the hackers. Industry insiders are calling this a game-changer, with Bybit’s CEO Ben Zhou emphasizing the exchange’s commitment to transparency and security. “We’re turning a setback into a rallying cry for the crypto community,” Zhou said in a statement, hinting at a broader industry shift.
Blockchain sleuths like ZachXBT have already tied the attack to Lazarus Group, known for past mega-heists like the $615M Ronin Bridge theft. The stolen 401,346 ETH—worth $1.4 billion—sent shockwaves through the market, but support from Bitget ($106M) and Binance ($132.5M) stabilized Bybit within hours. Now, this API positions crypto recovery as a collaborative effort, inviting global talent to join the hunt. Early reports suggest the hackers have moved funds, with 10,000 ETH ($27M) traced to a wallet dubbed “Bybit Exploiter 54” on February 22.
This isn’t just about Bybit—it’s a wake-up call for the crypto world. The blacklisted wallets API could set a precedent for how exchanges tackle breaches, blending cutting-edge tech with community-driven crypto recovery. With Ethereum’s price dipping 4% post-hack before rebounding, the stakes are high. Will this tool reclaim the stolen fortune and bolster trust in centralized platforms? As the bounty hunt heats up, the crypto sphere is watching closely—this could be the start of a security revolution. https://x.com/Lutcheann