Bybit CEO Reveals BTC Hack Attempt: How Chainflip Could Assist in Asset Recovery

On February 22nd, **Bybit’s CEO** Ben Zhou reported via social media about an alarming **security breach** involving hackers trying to move **Bitcoin (BTC)** through **Chainflip**, a cross-chain bridge. The incident underscores the growing risks in the crypto ecosystem and highlights the need for **enhanced security protocols**. Bybit aims to leverage the capabilities of Chainflip to **halt unauthorized transactions** and mitigate further threats to its platform.

In response to these challenges, Bybit plans to introduce an innovative **bounty program**, incentivizing individuals who can assist in tracking or halting the illicit transfer of funds. This initiative is a part of Bybit’s comprehensive strategy to bolster asset safety and reinforce community trust. The exchange remains vigilant in its efforts to recover funds and safeguard the interests of its users.