Bybit backs Ethereums first Attackathon with 75 ETH commitment

Bybit, the world‘s second-largest crypto exchange by trading volume, has announced its sponsorship of Ethereum’s first-ever “Attackathon” with a 75 ETH contribution. The global audit contest and hackathon, organized by Immunefi and the Ethereum Foundation, aims to enhance the security of the Ethereum protocol.

“At Bybit, we believe in the power of community and innovation to drive the future of blockchain technology. Our sponsorship of the Ethereum Attackathon aligns with our mission to support the security and sustainability of the ecosystems vital to the global crypto community,” Ben Zhou, co-founder and CEO of Bybit, stated.

The eight-week Attackathon event is expected to raise over $2 million USD for its reward pool, including the Ethereum Foundation‘s initial $500,000 USD seed. Bybit’s contribution marks the largest to date for this initiative.

In addition to the Attackathon sponsorship, Bybit has expanded its World Series of Trading (WSOT) 2024 prize pool to $10 million. This years WSOT includes both decentralized and centralized exchange trading for the first time.

Bybit‘s involvement in these initiatives reflects its ongoing commitment to fostering innovation and security in the crypto space, following its 2023 sponsorship of the Dubai Multi Commodity Centre’s efforts to support crypto startups.