Latest news with #RecoveryBountyProgram
Time of India
21-07-2025
- Business
- Time of India
CoinDCX launches India's largest crypto recovery bounty after Rs 368 crore Hack
CoinDCX has launched India's largest recovery bounty in the crypto sector, offering up to 25% of recovered funds as a reward to anyone who provides actionable information that helps retrieve assets lost in a recent security breach. The move comes after the exchange suffered a hack involving approximately $44.2 million (Rs 368 crore) from one of its internal operational accounts. Explore courses from Top Institutes in Select a Course Category Up to $11 Million in Rewards for Recovery As part of the CoinDCX Recovery Bounty Program, the exchange is inviting ethical hackers, white-hat researchers, and ecosystem partners to assist in the recovery effort. The bounty could go up to $11 million in case of a full recovery of the stolen funds. CoinDCX said it will reward those who help not only in asset retrieval but also in identifying and aiding the conviction of those responsible for the breach. Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 19.97% Buy Smart Contract Tracker 19.67% Buy DeFi Tracker 15.85% Buy BTC 50 :: ETH 50 13.00% Buy Web3 Tracker 9.24% Buy TOP COINS (₹) Ethereum 326,249 ( 2.09% ) Buy BNB 65,839 ( 2.02% ) Buy XRP 308 ( 1.67% ) Buy Bitcoin 10,268,448 ( 0.92% ) Buy Tether 86 ( 0.12% ) Buy "This is not just about us. This is about standing up for what's right, for the safety, transparency, and future of the entire Web3 ecosystem," CoinDCX said in a release. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Live Events The company added that it is already working with external cybersecurity partners and the affected exchange to trace and recover the funds. Funds Traced to Public Wallets CoinDCX confirmed that most of the stolen assets are currently held in two wallets: - Solana wallet holding approximately 155,830 SOL (~$27.6 million) - Ethereum wallet holding about 4,443 ETH (~$15.7 million) The company said it is collaborating closely with firms including Sygnia, zeroShadow, and Seal911, and acknowledged support from the Solana Foundation, Superteam, and bridge partners Wormhole and deBridge. The exchange said the bounty program is part of a broader effort to strengthen trust and resilience in the crypto ecosystem following the breach, which was disclosed earlier this month. While the breach affected an internal account, CoinDCX has clarified that customer assets remain safe and were not impacted. 'Cybercrime is an attack on trust. When one of us is targeted, all of us are affected,' said Khandelwal. 'We will emerge from this stronger, together.' Interested individuals and organizations can participate in the program by contacting bountyprogram@ . CoinDCX said all credible contributions will be evaluated and rewarded fairly.
Associated Press
23-02-2025
- Business
- Associated Press
Bybit Launches Recovery Bounty Program with Rewards up to 10% of Stolen Funds
DUBAI, , Feb. 23, 2025 (GLOBE NEWSWIRE) -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is calling on the brightest minds in cyber security and crypto analytics to join the global hunt for the perpetrators of crypto's largest heist in history. With a reward of 10% of the amount recovered, the contributors stand to share a bounty of potentially up to 140 million USD in value in the scenario of a full recovery. Recovery Bounty Program As part of the investigation and recovery efforts, Bybit is pledging 10% of recovered funds to reward ethical cyber and network security experts who play an active role in retrieving the stolen cryptocurrencies in the incident. The total amount of the bounty is calculated based on verifiable recovery of the compromised ETH worth over $1.4 billion at the time of the incident. Bybit values transparency and using blockchain technology for good. 'Within 24 hours of the event, we were overwhelmed with support from some of the best people and organizations in the industry, and we do not take it for granted. We have shared in a dark moment of crypto history, and we've proven we are better than the malicious actors,' said Ben Zhou, co-founder and CEO of Bybit. 'We want to officially reward our community who lent us their expertise, experience and support through the Recovery Bounty Program, and our efforts to make this difficult lesson a valuable one does not stop here. Bybit is determined to rise above the setback and fundamentally transform our security infrastructure, improve liquidity, and be a steadfast partner to our friends in the crypto community,' he added. How to Get Involved Individuals and organizations interested in participating in the Recovery Bounty Program can contact us via email at [email protected] Trust and security are at the core of the crypto industry. As the ecosystem grows, collective action is essential to maintaining its strength. We encourage exchanges, analysts, and the broader community to collaborate in protecting digital assets. Together, we can reinforce security, deter malicious activities, and uphold confidence in the industry. #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Contact Bybit
