Bybit CEO Ben Zhou has signaled that the exchange will exhaust every avenue to retrieve funds stolen in the recent Lazarus Group hack.

Speaking during a Feb. 22 X Spaces session, Zhou outlined plans that include launching a bounty program for white hat hackers, collaborating closely with law enforcement, and engaging with the Ethereum Foundation to explore all potential solutions.

When asked whether he supported a rollback of the Ethereum blockchain to a pre-hack state—a move that would invalidate the illicit transactions—Zhou expressed reservations. "I'm not sure if it's one man's decision. Based on the spirit of blockchain, maybe it should be a voting process to see what the communities want, but I'm not entirely certain," he said.

This discussion comes in the wake of the 2016 DAO hack, after which the Ethereum network experienced a controversial rollback via a hard fork. That split resulted in Ethereum Classic, which retained the original chain including the tainted transactions, while the revised chain evolved into the main Ethereum network that now operates on proof-of-stake.

Onchain analytics firm Lookonchain estimates that the Lazarus Group currently controls approximately 489,395 ETH—valued at around $1.3 billion—as well as 15,000 Mantle Restaked ETH, dispersed across 54 wallets. The group, which is believed to have ties to North Korea, has been actively shifting funds between wallets in an effort to obfuscate their origins and launder the stolen assets.

In a further bid to counteract the theft, Bybit announced a 10% bounty program on Feb. 22, offering up to $140 million in rewards for white hat hackers who can assist in recovering the stolen crypto. Zhou also took a moment to extend his gratitude to industry peers for their support following what has been described as one of the largest crypto hacks in history. Notably, Tether CEO Paolo Ardoino confirmed that his firm had frozen 181,000 USDt in response, while Bitget CEO Gracy Chen stated that the exchange would block transactions from any wallets associated with the Lazarus Group.

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