[Singapore, 3 March 2025] – Global digital asset solutions provider ChainUp has partnered with Bybit and other industry players to track, freeze, and recover stolen assets following a recent cyberattack. This effort aims to prevent illicit funds from re-entering legitimate markets and reinforce security across the digital asset ecosystem.

A coordinated global response involving authorities, blockchain forensic experts, and security teams deployed advanced on-chain analytics and wallet clustering to trace laundering patterns and recover the misappropriated Ethereum. 

ChainUp Custody and Know-Your-Transaction (KYT) platform Trustformer have integrated Bybit's blacklisted address API, ensuring that all clients utilizing its custody services will receive comprehensive support in preventing deposits of the stolen assets. In addition, ChainUp Custody empowers clients with a real-time data feed of addresses linked to the recent Bybit exploit, delivered via API or CSV, enabling the immediate detection of stolen funds as it flows into the ChainUp’s ecosystem.

“Bybit appreciates ChainUp for their swift response and seamless support in integrating API solutions for black address blocking. Their assistance has helped strengthen our recovery efforts," said Helen Liu, Chief Operating Officer of Bybit.

“ChainUp stands firmly with Bybit and other industry partners in this recovery effort,” said Sailor Zhong, Chief Executive Officer of ChainUp, “Security and integrity are at the heart of what we do. Our KYT and Custody teams are actively using advanced on-chain forensic tools to trace and monitor the compromised assets, while also providing robust security solutions to prevent future incidents. We're committed to doing our part to strengthen the ecosystem's resilience and ensure a safer environment for all.”

The cryptocurrency community remains united in its commitment to global security, collaborating with regulators, law enforcement, and industry partners to combat illicit activities and safeguard digital assets. ChainUp, together with key industry players, continues to drive the development of stronger compliance frameworks and enhanced security measures, reinforcing trust and resilience in the  financial ecosystem.