While the cryptoverse is still reeling from the $1.5 billion Bybit hack, its peers have launched a concerted effort to recover looted funds. A Bybit statement confirms that the coordinated effort led to the freezing of nearly $43 million barely two days after the jarring security breach.<\/span><\/p>\n According to Bybit\u2019s X <\/span>post<\/span><\/a>, a total of $42.85 million have been frozen across a handful of exchanges in the wake of the attack. Decentralized exchange THORChain blacklisted several addresses linked to the North-Korean hacking syndicate while Coinex provided Bybit\u2019s team with key insights.<\/span><\/p>\n ChangeNow froze 34 ETH ($97,000) in addresses linked to the <\/span>hack<\/span><\/a> while the Avalanche restricted access to 0.38755 BTC ($37,124). Lightning Network-based exchange FixedFloat froze 120,000 in USDC and USDT stablecoins, mirroring the efforts of Bitget and other centralized exchanges.<\/span><\/p>\n \u201cRespect to their teams for their timely responses,\u201d said Bybit on X. \u201cThey helped us monitor and block the blacklisted addresses.\u201d<\/span><\/p>\n Per the statement, stablecoin issuers Tether and Circle are flagging addresses linked to the Bybit hack with Tether freezing 181,000 USDT.<\/span><\/p>\n While law enforcement agencies and exchanges are keen on recovering stolen funds from the Bybit hack, the <\/span>top crypto exchange<\/span><\/a> is taking proactive steps to protect its users.\u00a0<\/span><\/p>\n In collaboration with Pump.fun and Solana Foundation President Lily Lui, the team confirmed the removal of a Solana-based token with ties to marauding hacker groups. Onchain data indicates that the Lazarus Group is bridging its assets to Solana and using fake KYC data to deposit funds on exchanges.<\/span><\/p>\n In an advisory to users, Bybit warned that scammers are pretending to be officials of the exchange to obtain sensitive personal information.<\/span><\/p>\n \u201cBybit will never ask for your personal info, deposits, or passwords,\u201d read the warning. \u201cAlways double-check official sources and report anything suspicious.\u201d<\/span><\/p>\n On the other hand, Ethereum community members are mulling over the prospects of a <\/span>blockchain rollback<\/span><\/a> to stifle the efforts of Bybit\u2019s attackers<\/span><\/p>\nExchanges Team Up To Recover Funds<\/span><\/h2>\n
Taking Proactive Steps Following The Bybit Hack<\/span><\/h2>\n
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/d3c68c40d23261dc2cb9cf6f8f3be0c0?s=200&d=mm&r=g\")