Bybit Unveils API to Track Suspicious Crypto Wallets Amid Industry’s Largest Heist

Bybit, the world’s second-largest crypto exchange by trading volume, has launched a new API to track and blacklist suspicious wallet addresses. This initiative, backed by top white-hat hackers and security experts, aims to expedite the recovery of stolen funds from a recent major hack.

Within three days, Bybit’s security team, along with industry peers, identified malicious addresses linked to the attack. The blacklist, updated continuously, will be accessible via an automated interface for verified partners, enhancing industry-wide security efforts. The exchange has also introduced a 10% bounty reward for successful interceptions, reinforcing its commitment to securing the crypto ecosystem.

In a move to further bolster security, Bybit is developing HackBounty, a dedicated platform for tracking hackers. “This moment can redefine our industry if we act together,” said Bybit CEO Ben Zhou, emphasizing the importance of collaboration.

The response to the hack has formed an industry-wide alliance, with leading security firms and exchanges joining forces. Key contributors include Mandiant, Verichain, Chainalysis, Binance, Coinbase, and Polygon, among others, providing forensic analysis, tracking stolen funds, and assisting in law enforcement efforts.

Bybit continues to strengthen Web3 security, bridging the gap between traditional finance and decentralized finance. With a global user base of over 60 million, the exchange is at the forefront of innovation, ensuring a safer crypto environment.