Here’s what happened in crypto today

Today in crypto, the Lazarus Group, the primary suspect behind the $1.4 billion Bybit hack, may also be linked to recent Solana memecoin scams, an Ethereum core developer said rolling back the Ethereum network may not be the best idea, and Bybit announced a bounty program to recover stolen funds.Bybit hackers may be behind Solana memecoin scams — ZachXBTThe Lazarus Group, the primary suspect behind the $1.4 billion Bybit hack, may also be linked to recent Solana memecoin scams, including rug pulls on the Pump.fun platform, according to onchain investigator ZachXBT.The crypto industry was rocked by the largest hack in history on Feb. 21, when Bybit lost over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other digital assets.Blockchain security firms, including Arkham Intelligence, have identified North Korea’s Lazarus Group as the likely culprit behind the Bybit exploit. The same entity laundering the hacked Bybit funds may also be responsible for some of the recent memecoin launches on Solana’s Pump.fun, according to ZachXBT.“On Feb 22 the attacker received $1.08M from the Bybit hack to 0x363908df2b0890e7e5c1e403935133094287d7d1 who bridged USDC to Solana,” ZachXBT wrote in in a Feb. 23 Telegram post.The $1 million was then consolidated across multiple wallets on Solana, some of which had previous links to memecoin scams, the investigator added.“I made 920+ addresses receiving funds tied to the Bybit hack public and noticed a person laundering for Lazarus Group previously launched meme coins via Pump Fun,” he said.Ethereum rollback deemed “technically intractable” amid Bybit hack pressureDespite growing calls from the crypto industry to roll back the Ethereum network to its pre-Feb. 21 state, before the Lazarus Group’s $1.5 billion hack on crypto exchange Bybit, Ethereum core developer Tim Beiko warns against the idea. He says such a move would be complex and carry significant consequences.“It’s worth breaking down why this reasonably sounding proposal is technically intractable for less knowledgeable observers,” Beiko said in a Feb. 22 X post. The Bybit hack on Feb. 21 happened after a transfer from the exchange’s multisig wallet to a warm wallet, which looked legitimate but had malicious code that altered the smart contract logic to steal funds.“A compromised interface made it appear as though a transaction was doing one thing while it was actually doing another,” Beiko said. Crypto commentators have been advocating ever since for an Ethereum rollback to reverse the hack, invalid the transactions, and recover Bybit’s funds.Bybit announces bounty program to recover stolen fundsThe Bybit exchange has announced a bounty program of up to 10% of the stolen funds, or roughly $140 million, to white hat hackers aiding in the return of the crypto seized by the infamous Lazarus hacker group.Ben Zhou, CEO of Bybit, also said the centralized trading platform is exploring multiple avenues to recover the funds, including working with law enforcement officials and discussing further steps with Vitalik Buterin of the Ethereum Foundation.As part of the massive outpouring of support from crypto industry firms and executives, Tether CEO Paolo Ardoino announced that the stablecoin issuer froze 181,000 USDt (USDT).The official announcement of a bounty program came amid the Lazarus Group moving crypto between dozes of wallets to launder the stolen funds.