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Over 68% of Stolen Funds are Traceable: Bybit CEO Ben Zhao
Ben Zhao, the CEO of Bybit, has recently provided an update on the company’s efforts to track and recover the stolen funds from a recent hack. In his statement, he revealed that over 68% of the stolen funds are currently traceable.
According to Zhao, the company has received over 5,443 bounty reports in the last 60 days, with more than 2,000 reports coming in weekly. The bounty program was introduced by Bybit as a proactive measure to encourage individuals to provide information that would aid in tracing and recovering the stolen funds.
Zhao emphasized the importance of collaboration and cooperation between exchanges, law enforcement agencies, and other stakeholders to combat cybercrime and improve digital asset security. He also highlighted the need for legal frameworks and partnerships across the crypto ecosystem to tackle these issues effectively.
The CEO’s comments have sparked a renewed sense of urgency in the industry, with many experts calling for more stringent measures to be taken to prevent similar attacks in the future.
Source: https://cryptotale.org/over-68-of-stolen-funds-are-traceable-bybit-ceo-ben-zhao/
