Bybit Restores Assets and Strengthens Security After Incident

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has made significant strides in recovering assets and rebuilding trust following a recent security incident. The platform has swiftly implemented recovery measures and enhanced security protocols to protect its global user base.

Bybit has successfully restored 77% of its Assets Under Management (AUM), reflecting a strong recovery strategy and growing client confidence. Spot liquidity has improved beyond pre-incident levels across the top 180 trading pairs, while contract trading recovery has exceeded expectations, with key indices reaching 86-87% of normal levels. Trading volume remains strong, surpassing $40 billion in the last two days.

As part of its commitment to transparency, Bybit conducted an additional proof of reserves audit alongside its regular monthly verifications. The audit confirms that all client assets are fully backed, with reserves showing BTC (102%), ETH (102%), SOL (103%), USDT (104%), USDE (116%), and USDC (229%), underscoring Bybit’s financial stability.

“We have taken swift and decisive action to reinforce security and protect our users. Transparency, resilience, and trust remain our top priorities,” said Ben Zhou, Co-founder and CEO of Bybit. “We deeply appreciate the support from our clients and partners in our rapid recovery.”

Founded in 2018, Bybit serves over 60 million users worldwide and is committed to creating an open, secure, and innovative crypto ecosystem. With a strong focus on Web3, Bybit partners with leading blockchain projects to bridge the gap between TradFi and DeFi, driving on-chain innovation and empowering the future of decentralized finance.