After falling victim to the largest known crypto theft in history, Bybit has partnered with a digital asset solutions provider to support its recovery of the stolen assets.
ChainUp has partnered with Bybit and other industry players to «track, freeze, and recover stolen assets following a recent cyberattack», according to a statement.
A coordinated global response involving authorities, blockchain forensic experts and security teams deployed on-chain analytics and wallet clustering to trace laundering patterns and recover the misappropriated Ethereum. Comprehensive support will be provided to prevent deposits of stolen assets alongside real-time data feed of addresses linked to the recent Bybit exploit.
Historic Theft
Last month, Bybit became victim to the largest known crypto theft in history. North Korea’s Lazarus Group was believed to have stolen $1.5 billion in Ethereum by using a fake interface that led to the sign-off of a cold wallet transaction. The world’s second-largest crypto exchange by users said that its client assets were fully backed by a reserve.
«Bybit appreciates ChainUp for their swift response and seamless support in integrating API solutions for black address blocking. Their assistance has helped strengthen our recovery efforts,» said Helen Liu, Bybit’s chief operating officer.
