DUBAI, UAE, May 30, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by trading volume, today announced a staggering increase in EUR trading volume following the launch of its EUR Zero Fees Fiesta campaign in early April. This move underscores Bybit’s commitment ...

Bybit Drives Significant Trading Surge with EUR Zero Fees Campaign - La Ragione

Citadel Securities-backed prime brokerage firm Hidden Road will stop offering its clients access to trading on Bybit, the third-largest crypto exchange by volume, according to people with knowledge of the matter.

Hidden Road Restricts Clients From Bybit After KYC, AML Disagreement - Bloomberg

/PRNewswire/ -- Bybit, one of the world&#x27;s top three crypto exchanges by volume, is excited to announce exclusive P2P trading rewards for selected users. From...

Bybit Offers Exclusive P2P Trading Rewards with A 6,000 USDT Prize Pool for Selected Users

/PRNewswire/ -- Bybit, one of the world&#x27;s top three crypto exchanges by trading volume, today announced a staggering increase in EUR trading volume following...

Bybit Drives Significant Trading Surge with EUR Zero Fees Campaign

Following weeks of warnings to clients, Hidden Road has officially halted access to the ByBit exchange over U.S. regulations surrounding customer verification.

Citadel-backed Hidden Road halts ByBit access for clients

The ever-evolving market of institutional cryptocurrency platforms, with their inherent volatility and constant innovation, presents a unique challenge for investors. Navigating this dynamic landscape requires a platform prioritizing security, reliability, and access to deep liquidity. Bybit ...

Bybit: A Secure And Feature-Rich Hub For Institutional Crypto Trading - Benzinga

Bybit Offers Exclusive P2P Trading Rewards with A 6,000 USDT Prize Pool for Selected Users

DUBAI, UAE, May 30, 2024 /PRNewswire/ -- Bybit, one of the world&#x27;s top three crypto exchanges by trading volume, today announced a staggering increase in EUR

Bybit Drives Significant Trading Surge with EUR Zero Fees Campaign - Thailand Business News

Bloomberg reported that Hidden Road and Bybit disagreed over issues related to KYC and anti-money laundering.

Hidden Road halts client access to Bybit over anti-money laundering, KYC issues: Bloomberg | The Block

Crypto trading experience elevated. Buy, sell, trade BTC, altcoins & NFTs. Get access to the spot and futures market or stake your coins securely.

Bybit

A new tool promises to end a hidden danger that cost Bybit $1.5 billion—here’s how it works. What if the next big crypto hack could be stopped not by tighter regulations or smarter coders, but by simply showing users what they’re agreeing to? That’s the premise behind Human Wallet, a Web3 wallet from the Holonym Foundation, which launched its public alpha testing today. With a radical approach to transaction security, it’s tackling a vulnerability exposed by the recent $1.5 billion Bybit breach—one that’s been hiding in plain sight: blind signing. https://www.youtube.com/watch?v=wbbKVAwy1xM&embedable=true https://www.youtube.com/watch?v=wbbKVAwy1xM&embedable=true The Bybit hack, the largest in crypto history, laid bare the risks of users approving transactions without fully understanding them. Blind signing—where complex transaction details are reduced to unreadable strings of code—left Bybit users exposed when hackers manipulated the platform’s frontend. Human Wallet claims it can stop such attacks in their tracks, moving transaction previews from compromised websites to the tamper-proof screens of hardware wallets. As the crypto world watches, the question looms: Could this be the fix Web3 has been waiting for? A New Approach to an Old Problem Human Wallet’s solution hinges on a blend of cutting-edge tech: two-party computation (2PC), trusted execution environments (TEEs), AI-assisted transaction simulation, and hardware wallets. Unlike traditional setups where transaction details appear on a website or connected device—both prone to manipulation—this system displays human-readable summaries directly on a hardware wallet. Think of it as a final checkpoint: before you sign, you see exactly what you’re approving, in plain language, not hexadecimal gibberish. Human Wallet The process starts with AI simulating the transaction to break it down into clear terms. Then, 2PC and TEEs—cryptographic tools that split and shield data—ensure no single point can be exploited. Add multi-signature support and two-factor authentication (2FA) via hardware wallets, and you’ve got layers of defense. Verification happens through the decentralized Human Network, sidestepping the centralized weak spots that plague many systems. The result? A setup that, in theory, would’ve thwarted the Bybit attack by keeping the compromised frontend out of the equation. To test it, the public can now download the Human Wallet Chrome extension, link a hardware wallet, and join the alpha phase. “Given the urgency of recent events, we’ve expedited internal testing to make this available now,” said Nanak Nihal Khalsa, co-founder and CTSO of Holonym Foundation. He cautions, though, that it’s still early days: “As an alpha release, we encourage users to experiment within their security workflows rather than rely on it for major assets.” The Bybit Wake-Up Call The stakes couldn’t be higher. In the Bybit breach, hackers exploited blind signing to trick users into approving fraudulent transactions, siphoning off $1.5 billion. The frontend—what users saw—was altered, while the underlying blockchain hummed along, oblivious. It’s a stark reminder of Web3’s double-edged sword: decentralization offers freedom, but it also shifts responsibility onto users who often lack the tools to protect themselves. Human Wallet argues its hardware-based previews could’ve stopped this. By moving the critical “what am I signing?” moment to a secure device, it cuts out the middleman—literally. If the frontend’s hacked, the hardware wallet still shows the truth. Experts say it’s a plausible claim: the Bybit attack relied on users not noticing discrepancies, something plain-language previews might have flagged. How It Stacks Up This isn’t the first attempt to fix blind signing. Some wallets use command-line verification or dedicated laptops—clunky solutions that sacrifice usability for safety. Others lean on centralized providers, introducing new risks. Human Wallet’s hybrid approach—combining decentralization with hardware security—aims for a middle ground. It’s not foolproof: a compromised hardware wallet could still spell trouble, and the alpha phase will test real-world resilience. But it’s a shift from the status quo, where users are often left guessing. The setup process is straightforward: download the extension, create an account, and pair it with a hardware wallet for 2FA. Transactions appear in clear terms, and multi-signature options add a backup layer—if one key fails, another can step in. It’s a nod to practicality, avoiding the tech-heavy barriers that deter mainstream adoption. Beyond the Tech: A Broader Mission Human Wallet isn’t just a tool; it’s part of Holonym Foundation’s push to make Web3 more accessible. Built on the human.tech protocol suite, it reflects a philosophy of user empowerment. Previously called Silk, it’s designed to ditch the tradeoff between simplicity and security—a pain point that’s kept crypto on the fringes. Whether it succeeds will depend on how it holds up under scrutiny, especially as alpha testers poke at its defenses. The crypto community is already buzzing. The Bybit hack shook trust, and with losses piling up—$1.5 billion here, millions elsewhere—there’s appetite for change. Human Wallet’s timing is no accident, riding a wave of urgency to rethink how we secure the decentralized web. Final Thoughts: A Step Forward or a Work in Progress? Human Wallet’s alpha launch is a bold statement: blind signing doesn’t have to be Web3’s Achilles’ heel. By marrying hardware security with user-friendly design, it offers a glimpse of a safer crypto future—one where users aren’t left deciphering code or praying their frontend isn’t lying. If it works as promised, the Bybit hack might’ve been a footnote, not a headline. But it’s not a silver bullet. Alpha testing will reveal cracks—whether in the tech, the user experience, or the decentralized backbone. Crypto’s history is littered with promising fixes that faltered under pressure. For now, Human Wallet is a compelling experiment, one that could nudge Web3 toward maturity—or highlight how far it still has to go. As testers dive in, the real verdict will come not from press releases, but from the blockchain itself. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure: business blogging program business blogging program

After Bybit’s $1.5B Blind Signing Fiasco, Human Wallet Steps Up with a Radical Security Fix

የባይቢት $1.5ቢ አይነስውራን ፊያስኮን ከፈረመ በኋላ፣ የሰው ኪስ ከአክራሪ ሴኪዩሪቲ ጥገና ጋር ወደ ላይ ይወጣል።

След фиаското със сляпо подписване от $1,5 милиарда на Bybit, Human Wallet се засилва с радикална корекция на сигурността

Tras el fiasco de 1500 millones de dólares de Bybit con la firma a ciegas, Human Wallet avanza con una solución de seguridad radical

Nakon fijaska Bybitovog slijepog potpisivanja od 1,5 milijardi dolara, ljudski novčanik napreduje s radikalnim sigurnosnim popravkom

Bybitの15億ドルのブラインドサインの失敗後、Human Walletが抜本的なセキュリティ修正で対応

Bybit-ის $1,5 მილიარდიანი ბრმა ხელმოწერის ფიასკოს შემდეგ, ადამიანის საფულე აგრძელებს უსაფრთხოების რადიკალურ გამოსწორებას

Bybitтин $ 1,5 миллиард долларлык сокур кол коюу фиаскосунан кийин, адам капчыгы Радикалдуу коопсуздукту оңдоо менен кадам таштады

По фијаското на Bybit со слепо потпишување од 1,5 милијарди долари, човечкиот паричник се засили со радикална безбедносна поправка

Након Бибит-овог фијаска у слепом потписивању од 1,5 милијарди долара, људски новчаник напредује са радикалном безбедносном исправком

Bybit'in 1,5 Milyar Dolarlık Kör İmza Fiyaskosundan Sonra, Human Wallet Radikal Bir Güvenlik Düzeltmesiyle Öne Çıkıyor

Bybit کے $1.5B بلائنڈ سائننگ فیاسکو کے بعد، ہیومن والیٹ ایک ریڈیکل سیکیورٹی فکس کے ساتھ قدم بڑھاتا ہے

Ngemuva kwe-Bybit's $1.5B Blind Signing Fiasco, I-Human Wallet Inyuka Nokulungiswa Kwezokuphepha Okukhulu

DUBAI, United Arab Emirates, March 6th, 2025/Chainwire/--Bybit, the world’s second-largest cryptocurrency exchange by trading volume, becomes the first platform to include USDtb, a blockchain-based USD stablecoin created and managed by Ethena Labs, on its Spot exchange. USDtb combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets, marking a pivotal innovation in the evolution of digital dollars. USDtb is backed primarily by BlackRock's USD Institutional Digital Liquidity Fund Token (BUIDL), which holds 100% of its assets in cash, U.S. Treasury Bills, and other short-term U.S. government obligations. This conservative and transparent backing makes USDtb a compelling option for investors seeking both stability and yield in the digital asset ecosystem. A New Chapter in Stablecoins Unlike traditional stablecoins, USDtb blends tokenized U.S. Treasury fund products with a stablecoin reserve, delivering a unique combination of stability, flexibility, and instant liquidity. This next-generation stablecoin enables faster, cheaper transactions compared to traditional banking systems, while offering users stable returns with principal protection — echoing the success of Ethena Labs’ USDe. Key Timeline USDtb Listing on Spot Trading: Mar 4, 2025, 8AM UTC
USDtb Withdrawals Open: Mar 5, 2025, 8AM UTC
USDtb 5% Airdrop: 1st Snapshot on Mar 6, 2025
First Reward Distribution: Before Mar 7, 6AM UTC Deposits and withdrawals will be available via the ETH network. Exclusive 5% APR Boost for Bybit Users To celebrate the listing, Bybit is offering 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing eligible users with no lock-up requirements. From Mar. 6 to Apr. 4, eligible Bybit users may join the Bybit exclusive event to enjoy the limited-time 5% APR on USDtb holdings, starting at a minimum of 0.00005 USDtb. Holders will continue to enjoy 95% of the yield on Treasury Bills after the 1st month. Rewards will be distributed in USDtb on a first-come, first-served basis, and capped at a total of 200 million in USDtb tokens. The APR will be gradually decreasing after the cap is reached. However, all USDtb holders on Bybit will continue to earn rewards indefinitely after the promotional period ends. "By listing USDtb, Bybit is pioneering a new frontier for stablecoins — bridging traditional finance and digital assets with unprecedented transparency and institutional-grade security," said Jerry Li, Head of Earn & Wealth Management at Bybit. "We are proud to be the first to introduce this innovative asset to our users, expanding their options for both secure savings and dynamic trading opportunities, all while maintaining the seamless experience Bybit is known for." About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com. For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For updates, please follow: Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here DUBAI, United Arab Emirates, March 6th, 2025/Chainwire/--Bybit, the world’s second-largest cryptocurrency exchange by trading volume, becomes the first platform to include USDtb, a blockchain-based USD stablecoin created and managed by Ethena Labs, on its Spot exchange. USDtb combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets, marking a pivotal innovation in the evolution of digital dollars. USDtb is backed primarily by BlackRock's USD Institutional Digital Liquidity Fund Token (BUIDL), which holds 100% of its assets in cash, U.S. Treasury Bills, and other short-term U.S. government obligations. This conservative and transparent backing makes USDtb a compelling option for investors seeking both stability and yield in the digital asset ecosystem. A New Chapter in Stablecoins Unlike traditional stablecoins, USDtb blends tokenized U.S. Treasury fund products with a stablecoin reserve, delivering a unique combination of stability, flexibility, and instant liquidity. This next-generation stablecoin enables faster, cheaper transactions compared to traditional banking systems, while offering users stable returns with principal protection — echoing the success of Ethena Labs’ USDe. Key Timeline USDtb Listing on Spot Trading: Mar 4, 2025, 8AM UTC USDtb Withdrawals Open: Mar 5, 2025, 8AM UTC USDtb 5% Airdrop: 1st Snapshot on Mar 6, 2025 First Reward Distribution: Before Mar 7, 6AM UTC USDtb Listing on Spot Trading: Mar 4, 2025, 8AM UTC USDtb Withdrawals Open: Mar 5, 2025, 8AM UTC USDtb 5% Airdrop: 1st Snapshot on Mar 6, 2025 First Reward Distribution: Before Mar 7, 6AM UTC Deposits and withdrawals will be available via the ETH network. Exclusive 5% APR Boost for Bybit Users To celebrate the listing , Bybit is offering 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing eligible users with no lock-up requirements. the listing the listing From Mar. 6 to Apr. 4, eligible Bybit users may join the Bybit exclusive event to enjoy the limited-time 5% APR on USDtb holdings, starting at a minimum of 0.00005 USDtb. Holders will continue to enjoy 95% of the yield on Treasury Bills after the 1st month. Rewards will be distributed in USDtb on a first-come, first-served basis, and capped at a total of 200 million in USDtb tokens. The APR will be gradually decreasing after the cap is reached. However, all USDtb holders on Bybit will continue to earn rewards indefinitely after the promotional period ends. "By listing USDtb, Bybit is pioneering a new frontier for stablecoins — bridging traditional finance and digital assets with unprecedented transparency and institutional-grade security," said Jerry Li, Head of Earn & Wealth Management at Bybit. "By listing USDtb, Bybit is pioneering a new frontier for stablecoins — bridging traditional finance and digital assets with unprecedented transparency and institutional-grade security," said Jerry Li, Head of Earn & Wealth Management at Bybit. "We are proud to be the first to introduce this innovative asset to our users, expanding their options for both secure savings and dynamic trading opportunities, all while maintaining the seamless experience Bybit is known for." "We are proud to be the first to introduce this innovative asset to our users, expanding their options for both secure savings and dynamic trading opportunities, all while maintaining the seamless experience Bybit is known for." About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. Bybit Bybit With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . Bybit.com Bybit.com For more details about Bybit, please visit Bybit Press Bybit Press Bybit Press For media inquiries, please contact: media@bybit.com media@bybit.com media@bybit.com For updates, please follow: Bybit's Communities and Social Media Bybit's Communities and Social Media Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube Discord Discord Facebook Facebook Instagram Instagram LinkedIn LinkedIn Reddit Reddit Telegram Telegram TikTok TikTok X X Youtube Youtube Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here here here

Bybit Becomes The First Exchange To List USDtb , Bringing Institutional-Grade Stability To Crypto 

Bybit ukax Nayrïr Intercambio ukar tukuwayi USDtb ukar Listar , Estabilidad Institucional-Grado ukar Cripto ukar puriyañataki 

Bybit postaje prva berza na listi USDtb, donoseći stabilnost na institucionalnom nivou kripto 

Bybit se convierte en el primer exchange en incluir USDtb, lo que aporta estabilidad de nivel institucional a las criptomonedas

Bybit USDtb zerrendatzen duen lehen trukea bihurtzen da, eta Cryptorako maila instituzionalaren egonkortasuna ekarriz 

Bybit devient la première bourse à lister l'USDtb, apportant une stabilité de niveau institutionnel à la crypto

Bybit postaje prva burza koja uvrštava USDtb, donoseći stabilnost institucionalne razine kripto 

Bybit-ը դառնում է առաջին փոխանակումը, որը ցուցակում է USDtb-ն՝ բերելով ինստիտուցիոնալ աստիճանի կայունություն Crypto-ին 

BybitがUSDtbを上場する最初の取引所となり、暗号通貨に機関投資家レベルの安定性をもたらす

Bybit Ñawpaq kaq Intercambioman tukun USDtb Listananpaq , Institucional-Grado Estabilidadta Criptoman apamuspa 

Bybit devine primul schimb care listează USDtb, aducând stabilitate la nivel instituțional criptografic 

Bybit становится первой биржей, разместившей USDtb, что обеспечивает криптовалюте стабильность институционального уровня

Bybit USDtb کی فہرست بنانے والا پہلا ایکسچینج بن گیا، کرپٹو میں ادارہ جاتی-گریڈ استحکام لاتا ہے 

The $1.4 billion hack of the Bybit exchange is a natural thunderclap. First, the amount of stolen cryptocurrency is staggering in scope. Secondly, the security systems of large CEX platforms are considered to be quite reliable and elaborate, but it seems that this is not the case. Entire companies (Arkham) and individual experts (ZachXBT) are looking for signs of outside influence and the path of funds to find out who the funds will lead to. In the meantime, anonymous security expert Dexaran, author of ERC-223 and head of Ethereum Commonwealth, has looked deeper into the attack itself and revealed that the defense mechanism wasn't really that robust, and that someone inside Bybit could conceivably be involved in the hack. Multisig has proven to be unreliable. The vast majority of exchanges use multisig wallets to store assets. In fact, it is a special smart contract that can only be acted upon if the persons involved in the management approve the proposed action with their signatures. Such smart contracts can be updatable, i.e. have a bundle of a proxy contract that stores data and an implementation contract - the logic to be executed. Dexaran in one of his posts gives the address of the proxy contract of the attacked Bybit cold wallet using Gnosis Safe as the implementation contract, rightly noting that it is a rather complex contract of 1080 lines. It may well be that the Bybit team never utilized the full functionality of Gnosis Safe. Most likely, the choice of a smart multi-signature contract was influenced by the widespread adoption of Gnosis Safe. In the meantime, complexity often leads to redundancy and misunderstanding of code behavior in complex situations, one can recall the incorrect user interaction with Gnosis Safe and the loss of $25 million. The Achilles' heel of the multisig used turned out to be signatures, or rather, how and with what help they are generated. As Dexaran notes, signatures are very complex and unreadable by humans, which means that most likely software is used to generate them, and the process itself is the same for all participants, the researcher suggests. That's why other members of the Bybit team didn't suspect anything, because everything looked as usual, and they couldn't read the substitution of Bybit's hot wallet for the hacker's wallet because of the complexity of the signature provided by the hacker. There is no reason not to trust Dexaran's expertise. He has extensive experience auditing smart contracts since the Ethereum split. He audited the multisig wallet for Ethereum Classic, developed the ERC-223 standard and the smart contract communication model to solve the ERC-20 problem. Why would a hacker be inside Bybit? Sure, the Gnosis Safe contract and the proxy contract are verified in the Etherscan block browser, anyone can read the code, the hacker could just be a smart guy. However, the fact that he clearly knows how signatures are generated is either a rare coincidence and a lucky break for the hacker, or he simply knows the inner workings of Bybit's security system from his direct job duties or from an informant. In addition, the hacker didn't just walk by, he deployed two copies of the target contract for practice the day before. Hacker trails A researcher under the nickname ZachXBT traced the flow of funds to an address that accumulated funds from the Phemex hack. This fact is taken as proof of Lazarus Group involvement in the Bybit hack. Considering that a hacker or group of hackers was crushing the funds and withdrawing them through various bridges and mixers, the researcher has done a Herculean task. \In turn, Dexaran draws attention to the chain of addresses, through which the hacker's addresses were replenished to pay for gas for calls to test contracts and send a transaction with a signature to withdraw funds from the exchange's cold wallet. It turns out the hacker funded his addresses through the Binance exchange. Binance is fully compliant with KYC/AML policies and is quite willing to work with various law enforcement agencies. Of course, hackers use the so-called “money mule”, but it's still a clue when an exchange cooperates with law enforcement. Community reaction. Call for the abolition of decentralization. As soon as it became known that the exchange had been hacked and an astronomical amount of ETH had been withdrawn, the market experienced selling pressure. Traders obviously rushed to hedge their bets believing that hackers would cash out the stolen money. CoinMarketCap After the opening of withdrawals from the exchange, users also rushed to withdraw their funds, resulting in an outflow of $5.3 billion (DeFi Llama). Various companies have gotten involved in tagging stolen funds and limiting the ability for hackers to use different platforms to mix and transfer funds between blockchains. Tether - the issuer of USDt - block hackers' funds (Paolo Ardoino). However, not everyone is moving in unison. Cryptomixer eXch has refused to cooperate with the exchange. “In light of these circumstances, we would like an explanation as to why we should partner with an organization that has actively defamed our reputation,” eXch wrote in a response posted on the Bitcointalk forum. Amazingly, there are people calling for a rollback of the Ethereum blockchain to recover Bybit funds, one of them Jan3 CEO Samson Mow. These calls sound a bit strange, when ordinary users who lose their funds are accused of negligence. It's not uncommon for users to mistakenly send funds to the exchange from the wrong EVM network, and all the exchange needs to do is use a public node to send the user's funds back, but in 99.9% of cases they refuse. Plus Bybit has assured that it has enough reserves to cover all losses. These people unknowingly call for burying all the efforts made by the blockchain industry by completely abolishing decentralization, thus reducing the very value of public blockchain technology to 0. Fortunately, the developers of Ethereum themselves are against such a move, and have more than justified their position. for example, kernel developer Tim Beiko. And they have enough supporters on this issue advocating decentralization and cryptopunk philosophy, such as Justin Bons. Bybit itself launched a bounty program, thus announcing a hunt for hackers involved in the hack. Conclusion The community is used to periodic hacks of DeFi protocols. On these platforms developers often neglect testing procedures and audits, choose modules whose code and logic they don't fully know. All in favor of development speed and fear of missing the wave. That's why CEX hack, especially a large one, is always a high-profile event that leaves a lasting impression on the whole industry. Developers at all levels should not forget that the race of defense mechanisms and hacking tools is non-stop and should be on guard. The $1.4 billion hack of the Bybit exchange is a natural thunderclap. First, the amount of stolen cryptocurrency is staggering in scope. Secondly, the security systems of large CEX platforms are considered to be quite reliable and elaborate, but it seems that this is not the case. Entire companies ( Arkham ) and individual experts ( ZachXBT ) are looking for signs of outside influence and the path of funds to find out who the funds will lead to. In the meantime, anonymous security expert Dexaran , author of ERC-223 and head of Ethereum Commonwealth , has looked deeper into the attack itself and revealed that the defense mechanism wasn't really that robust, and that someone inside Bybit could conceivably be involved in the hack. Arkham Arkham ZachXBT ZachXBT Dexaran Dexaran ERC-223 ERC-223 Ethereum Commonwealth Ethereum Commonwealth revealed revealed Multisig has proven to be unreliable. The vast majority of exchanges use multisig wallets to store assets. In fact, it is a special smart contract that can only be acted upon if the persons involved in the management approve the proposed action with their signatures. Such smart contracts can be updatable , i.e. have a bundle of a proxy contract that stores data and an implementation contract - the logic to be executed. multisig multisig updatable updatable Dexaran in one of his posts gives the address of the proxy contract of the attacked Bybit cold wallet using Gnosis Safe as the implementation contract, rightly noting that it is a rather complex contract of 1080 lines. It may well be that the Bybit team never utilized the full functionality of Gnosis Safe. Most likely, the choice of a smart multi-signature contract was influenced by the widespread adoption of Gnosis Safe. In the meantime, complexity often leads to redundancy and misunderstanding of code behavior in complex situations, one can recall the incorrect user interaction with Gnosis Safe and the loss of $25 million. proxy contract proxy contract interaction interaction The Achilles' heel of the multisig used turned out to be signatures, or rather, how and with what help they are generated. As Dexaran notes , signatures are very complex and unreadable by humans, which means that most likely software is used to generate them, and the process itself is the same for all participants, the researcher suggests. notes notes That's why other members of the Bybit team didn't suspect anything, because everything looked as usual , and they couldn't read the substitution of Bybit's hot wallet for the hacker's wallet because of the complexity of the signature provided by the hacker. as usual as usual There is no reason not to trust Dexaran's expertise. He has extensive experience auditing smart contracts since the Ethereum split. He audited the multisig wallet for Ethereum Classic, developed the ERC-223 standard and the smart contract communication model to solve the ERC-20 problem . audited audited ERC-20 problem ERC-20 problem Why would a hacker be inside Bybit? Sure, the Gnosis Safe contract and the proxy contract are verified in the Etherscan block browser, anyone can read the code, the hacker could just be a smart guy. However, the fact that he clearly knows how signatures are generated is either a rare coincidence and a lucky break for the hacker, or he simply knows the inner workings of Bybit's security system from his direct job duties or from an informant. In addition, the hacker didn't just walk by, he deployed two copies of the target contract for practice the day before. deployed deployed Hacker trails A researcher under the nickname ZachXBT traced the flow of funds to an address that accumulated funds from the Phemex hack . This fact is taken as proof of Lazarus Group involvement in the Bybit hack. Considering that a hacker or group of hackers was crushing the funds and withdrawing them through various bridges and mixers, the researcher has done a Herculean task. traced traced Phemex hack Phemex hack Lazarus Group Lazarus Group \In turn, Dexaran draws attention to the chain of addresses, through which the hacker's addresses were replenished to pay for gas for calls to test contracts and send a transaction with a signature to withdraw funds from the exchange's cold wallet. It turns out the hacker funded his addresses through the Binance exchange. Binance is fully compliant with KYC/AML policies and is quite willing to work with various law enforcement agencies. Of course, hackers use the so-called “money mule”, but it's still a clue when an exchange cooperates with law enforcement. draws draws Community reaction. Call for the abolition of decentralization. As soon as it became known that the exchange had been hacked and an astronomical amount of ETH had been withdrawn, the market experienced selling pressure. Traders obviously rushed to hedge their bets believing that hackers would cash out the stolen money. CoinMarketCap CoinMarketCap CoinMarketCap After the opening of withdrawals from the exchange, users also rushed to withdraw their funds, resulting in an outflow of $5.3 billion ( DeFi Llama ). DeFi Llama DeFi Llama Various companies have gotten involved in tagging stolen funds and limiting the ability for hackers to use different platforms to mix and transfer funds between blockchains. Tether - the issuer of USDt - block hackers' funds ( Paolo Ardoino ). involved involved Paolo Ardoino Paolo Ardoino However, not everyone is moving in unison. Cryptomixer eXch has refused to cooperate with the exchange. “In light of these circumstances, we would like an explanation as to why we should partner with an organization that has actively defamed our reputation,” eXch wrote in a response posted on the Bitcointalk forum. “In light of these circumstances, we would like an explanation as to why we should partner with an organization that has actively defamed our reputation,” eXch wrote in a response posted on the Bitcointalk forum. Bitcointalk Amazingly, there are people calling for a rollback of the Ethereum blockchain to recover Bybit funds, one of them Jan3 CEO Samson Mow. Jan3 CEO Samson Mow . Jan3 CEO Samson Mow These calls sound a bit strange, when ordinary users who lose their funds are accused of negligence. It's not uncommon for users to mistakenly send funds to the exchange from the wrong EVM network, and all the exchange needs to do is use a public node to send the user's funds back, but in 99.9% of cases they refuse. Plus Bybit has assured that it has enough reserves to cover all losses. These people unknowingly call for burying all the efforts made by the blockchain industry by completely abolishing decentralization, thus reducing the very value of public blockchain technology to 0. Fortunately, the developers of Ethereum themselves are against such a move, and have more than justified their position. for example, kernel developer Tim Beiko. Tim Beiko . Tim Beiko And they have enough supporters on this issue advocating decentralization and cryptopunk philosophy, such as Justin Bons. Justin Bons . Justin Bons Bybit itself launched a bounty program, thus announcing a hunt for hackers involved in the hack. launched launched Conclusion The community is used to periodic hacks of DeFi protocols. On these platforms developers often neglect testing procedures and audits, choose modules whose code and logic they don't fully know. All in favor of development speed and fear of missing the wave. That's why CEX hack, especially a large one, is always a high-profile event that leaves a lasting impression on the whole industry. Developers at all levels should not forget that the race of defense mechanisms and hacking tools is non-stop and should be on guard.

Security Expert Says the Bybit Hack May Have Involved an Insider

Sekuriteitskenner sê die Bybit Hack het moontlik 'n insider betrek

يقول خبير أمني إن اختراق Bybit ربما يكون متورطًا فيه شخص من الداخل

Эксперт па бяспецы кажа, што ва ўзломе Bybit мог быць задзейнічаны інсайдэр

Un experto en seguridad afirma que el hackeo de Bybit podría haber involucrado a alguien con información privilegiada

Ekspè Sekirite di Bybit Hack a ka enplike yon Inisye

Pakar Keamanan Mengatakan Peretasan Bybit Mungkin Melibatkan Orang Dalam

セキュリティ専門家、バイビットのハッキングには内部関係者が関与していた可能性があると主張

Nilaza ny manam-pahaizana momba ny fiarovana fa mety ho tafiditra ao anatin'ny atiny ny Hack Bybit

Pakar Keselamatan Berkata Hack Bybit Mungkin Melibatkan Orang Dalam

ආරක්ෂක විශේෂඥයෙක් පවසන්නේ බයිබිට් හැක් කිරීම අභ්‍යන්තරිකයෙකු සම්බන්ධ වී ඇති බවයි.

Nyanzvi Yekuchengetedza Inoti iyo Bybit Hack Inogona kunge Iine Mukati

பைபிட் ஹேக்கில் ஒரு உள் நபர் ஈடுபட்டிருக்கலாம் என்று பாதுகாப்பு நிபுணர் கூறுகிறார்.

Security is something I have been dealing with for the past 15–17 years. No matter how much you know, there will always be someone smarter, faster, or stronger. Yet, there is a set of rules and principles that should never be violated. The Bybit experience was particularly illustrative for me because the exchange's employees neglected all major security approaches—from fundamental and abstract principles to concrete, detailed measures. Thus, I will analyze several key aspects based on this hack. The Zero Principle of Security Years ago, I formulated this principle for myself: "Any system can be hacked. The only question is time, money, and effort." If hacking your system yields $1M while costing the attacker only $10K, the system will definitely be hacked. However, if hacking requires $1.1M, then the question becomes: why bother? Unless, of course, the motive is to harm a competitor or conduct a state-sponsored cyberattack. This principle was precisely what Bybit's employees violated. According to initial interviews, they believed their system was invulnerable. But the $1.4B price tag changed everything. Wherever you work, you must understand that anything can be hacked, anytime, and anyway. The only variables are money, time, and effort. Knowing this, let's move forward… Is a Hardware Wallet + Multisig Safe? Yes and no. Hardware wallets have always been attacked—Ledger and Trezor are prime examples. Other brands fare even worse. However, you can mitigate risks and reduce negative impacts when using hardware/multisig wallets. Here are some recommendations compiled from researchers and personal experience: Verify what you're signing: Always ensure that what you see matches what you're actually signing or transferring. If you notice discrepancies, stop, pause, and evaluate the situation carefully.
Browser-based wallet connections are safer than direct ones: Why? Browser wallets have extensive contract databases and can sometimes provide false positives, but they highlight interactions with new and, especially, unverified contracts (which was relevant in this case).
Update your wallet firmware: Install only official firmware, unless you're into ethical hacking. You can verify this on the manufacturer's website or via hash sums.
Simulate transactions before signing: Always check for unexpected changes. The key concepts here are pre-check and interrupt.
Use alternative verification sources: Some useful tools include:

Etherscan Input Data Decoder
PalmeraDAO Safe Interface (used after the Bybit hack)
CirclesTools SafeViewer (explained in the linked page)


Safe has also introduced alternative interfaces:

PalmeraDAO App
EternalSafe
Onchainden App


Add.:

Safe API
Safe Documentation
Trezor features These precautions are just a start. Now, let’s compare them with lessons learned from the Radiant hack: Multilayer signature verification: Any anomaly, even minor, should trigger a security review.
Independent transaction verification device: Generates verification codes that match hardware wallet data.
Enhanced Ledger/Trezor security: Avoid blind signing for critical transactions.
Audit repeated transaction failures: Recurrent issues should trigger a full transaction audit.
Manual transaction data verification: Extract and decode transaction data before signing, ensuring functions and addresses match expectations.
Dual message hash confirmation: Use Gnosis’ guide to verify transactions on hardware wallets. Did Bybit implement any of these? According to available data—no. The Human Factor: The Weakest Link Phishing, social engineering, and spam account for 80% of cyberattacks. The Bybit and Radiant cases prove this clearly. To mitigate risks, implement role separation: If you have multiple signers, they must have independent verification channels.
Ownership changes should be more complex than transaction approvals.
Cold wallets should never store more than acceptable loss thresholds (e.g., $1.5B is excessive for any exchange).
Any transaction discrepancies should default to cancellation, not approval.
Staff must receive ongoing security training—at least monthly.
Appoint at least one security verifier with expertise in multisig wallets and advanced security tools. Again, public data does not confirm that Bybit followed any of these steps. Researcher Opinions Many experts have weighed in on this hack. Here are some key perspectives: @dhkleung
@blainemalone
@pcaversaccio
SlowMist Report
@koeppelmann
Chainabuse Report
Radiant Post-Mortem The key takeaway? While the attack appeared highly technical, it ultimately succeeded due to human error rather than technological vulnerabilities. Therefore, I highly recommend studying the Radiant and WazirX cases as well. It’s clear that script kiddies are adopting these techniques, meaning that not only exchanges but a wider range of crypto projects will be targeted next. Stay safe! Security is something I have been dealing with for the past 15–17 years. No matter how much you know, there will always be someone smarter, faster, or stronger. Yet, there is a set of rules and principles that should never be violated. The Bybit experience was particularly illustrative for me because the exchange's employees neglected all major security approaches—from fundamental and abstract principles to concrete, detailed measures. Thus, I will analyze several key aspects based on this hack. The Zero Principle of Security The Zero Principle of Security Years ago, I formulated this principle for myself: "Any system can be hacked. The only question is time, money, and effort." If hacking your system yields $1M while costing the attacker only $10K, the system will definitely be hacked. However, if hacking requires $1.1M, then the question becomes: why bother? Unless, of course, the motive is to harm a competitor or conduct a state-sponsored cyberattack. "Any system can be hacked. The only question is time, money, and effort." This principle was precisely what Bybit's employees violated. According to initial interviews, they believed their system was invulnerable. But the $1.4B price tag changed everything. This principle was precisely what Bybit's employees violated. According to initial interviews, they believed their system was invulnerable. But the $1.4B price tag changed everything. Wherever you work, you must understand that anything can be hacked, anytime , and anyway . The only variables are money, time, and effort. Knowing this, let's move forward… anything anytime anyway Is a Hardware Wallet + Multisig Safe? Is a Hardware Wallet + Multisig Safe? Yes and no. Hardware wallets have always been attacked— Ledger and Trezor are prime examples. Other brands fare even worse. Ledger Trezor However, you can mitigate risks and reduce negative impacts when using hardware/multisig wallets. Here are some recommendations compiled from researchers and personal experience: Verify what you're signing: Always ensure that what you see matches what you're actually signing or transferring. If you notice discrepancies, stop, pause, and evaluate the situation carefully. Browser-based wallet connections are safer than direct ones: Why? Browser wallets have extensive contract databases and can sometimes provide false positives, but they highlight interactions with new and, especially, unverified contracts (which was relevant in this case). Update your wallet firmware: Install only official firmware, unless you're into ethical hacking. You can verify this on the manufacturer's website or via hash sums. Simulate transactions before signing: Always check for unexpected changes. The key concepts here are pre-check and interrupt. Use alternative verification sources: Some useful tools include:

Etherscan Input Data Decoder
PalmeraDAO Safe Interface (used after the Bybit hack)
CirclesTools SafeViewer (explained in the linked page) Safe has also introduced alternative interfaces:

PalmeraDAO App
EternalSafe
Onchainden App Add.:

Safe API
Safe Documentation
Trezor features Verify what you're signing : Always ensure that what you see matches what you're actually signing or transferring. If you notice discrepancies, stop, pause, and evaluate the situation carefully. Verify what you're signing Browser-based wallet connections are safer than direct ones : Why? Browser wallets have extensive contract databases and can sometimes provide false positives, but they highlight interactions with new and, especially, unverified contracts (which was relevant in this case). Browser-based wallet connections are safer than direct ones Update your wallet firmware : Install only official firmware, unless you're into ethical hacking. You can verify this on the manufacturer's website or via hash sums. Update your wallet firmware Simulate transactions before signing : Always check for unexpected changes. The key concepts here are pre-check and interrupt . Simulate transactions before signing pre-check interrupt Use alternative verification sources : Some useful tools include: Etherscan Input Data Decoder
PalmeraDAO Safe Interface (used after the Bybit hack)
CirclesTools SafeViewer (explained in the linked page) Use alternative verification sources Etherscan Input Data Decoder PalmeraDAO Safe Interface (used after the Bybit hack) CirclesTools SafeViewer (explained in the linked page) Etherscan Input Data Decoder Etherscan Input Data Decoder PalmeraDAO Safe Interface (used after the Bybit hack) PalmeraDAO Safe Interface CirclesTools SafeViewer (explained in the linked page) CirclesTools SafeViewer Safe has also introduced alternative interfaces: PalmeraDAO App
EternalSafe
Onchainden App PalmeraDAO App EternalSafe Onchainden App PalmeraDAO App PalmeraDAO App EternalSafe EternalSafe Onchainden App Onchainden App Add.: Safe API
Safe Documentation
Trezor features Safe API Safe Documentation Trezor features Safe API Safe API Safe Documentation Safe Documentation Trezor features Trezor These precautions are just a start. Now, let’s compare them with lessons learned from the Radiant hack: Multilayer signature verification: Any anomaly, even minor, should trigger a security review. Independent transaction verification device: Generates verification codes that match hardware wallet data. Enhanced Ledger/Trezor security: Avoid blind signing for critical transactions. Audit repeated transaction failures: Recurrent issues should trigger a full transaction audit. Manual transaction data verification: Extract and decode transaction data before signing, ensuring functions and addresses match expectations. Dual message hash confirmation: Use Gnosis’ guide to verify transactions on hardware wallets. Multilayer signature verification : Any anomaly, even minor, should trigger a security review. Multilayer signature verification Independent transaction verification device : Generates verification codes that match hardware wallet data. Independent transaction verification device Enhanced Ledger/Trezor security : Avoid blind signing for critical transactions. Enhanced Ledger/Trezor security Audit repeated transaction failures : Recurrent issues should trigger a full transaction audit. Audit repeated transaction failures Manual transaction data verification : Extract and decode transaction data before signing, ensuring functions and addresses match expectations. Manual transaction data verification Dual message hash confirmation : Use Gnosis’ guide to verify transactions on hardware wallets. Dual message hash confirmation Did Bybit implement any of these? According to available data—no. Did Bybit implement any of these? According to available data—no. The Human Factor: The Weakest Link The Human Factor: The Weakest Link Phishing, social engineering, and spam account for 80% of cyberattacks. The Bybit and Radiant cases prove this clearly. To mitigate risks, implement role separation: If you have multiple signers, they must have independent verification channels. Ownership changes should be more complex than transaction approvals. Cold wallets should never store more than acceptable loss thresholds (e.g., $1.5B is excessive for any exchange). Any transaction discrepancies should default to cancellation, not approval. Staff must receive ongoing security training—at least monthly. Appoint at least one security verifier with expertise in multisig wallets and advanced security tools. If you have multiple signers, they must have independent verification channels . If you have multiple signers, they must have independent verification channels Ownership changes should be more complex than transaction approvals . Ownership changes should be more complex than transaction approvals Cold wallets should never store more than acceptable loss thresholds (e.g., $1.5B is excessive for any exchange). Cold wallets should never store more than acceptable loss thresholds Any transaction discrepancies should default to cancellation, not approval . Any transaction discrepancies should default to cancellation, not approval Staff must receive ongoing security training—at least monthly . Staff must receive ongoing security training—at least monthly Appoint at least one security verifier with expertise in multisig wallets and advanced security tools. Appoint at least one security verifier Again, public data does not confirm that Bybit followed any of these steps. Again, public data does not confirm that Bybit followed any of these steps. Researcher Opinions Researcher Opinions Many experts have weighed in on this hack. Here are some key perspectives: @dhkleung @blainemalone @pcaversaccio SlowMist Report @koeppelmann Chainabuse Report Radiant Post-Mortem @dhkleung @dhkleung @blainemalone @blainemalone @pcaversaccio @pcaversaccio SlowMist Report SlowMist Report @koeppelmann @koeppelmann Chainabuse Report Chainabuse Report Radiant Post-Mortem Radiant Post-Mortem The key takeaway? While the attack appeared highly technical, it ultimately succeeded due to human error rather than technological vulnerabilities. human error Therefore, I highly recommend studying the Radiant and WazirX cases as well. It’s clear that script kiddies are adopting these techniques, meaning that not only exchanges but a wider range of crypto projects will be targeted next. Stay safe! Stay safe!

Bybit's $1.5 Billion Crypto Heist Sparks Debate on Centralized Exchange Security

Bybit-in 1,5 milyard dollarlıq kriptovalyutası mərkəzləşdirilmiş mübadilə təhlükəsizliyi ilə bağlı müzakirələrə səbəb oldu

Bybitova pljačka kripto vrijednih 1,5 milijardi dolara izaziva debatu o centraliziranoj sigurnosti razmjene

El robo de 1.500 millones de dólares en criptomonedas por parte de Bybit genera debate sobre la seguridad de los exchanges centralizados

O atraco criptográfico de 1,5 millóns de dólares de Bybit provoca un debate sobre a seguridade de intercambio centralizado

A Bybit 1,5 milliárd dolláros kriptográfiai rablása vitát indít a központosított cserebiztonságról

バイビットの15億ドルの仮想通貨強奪事件が中央集権型取引所のセキュリティに関する議論を巻き起こす

ການໂຕ້ວາທີຂອງ Crypto Heist ມູນຄ່າ 1.5 ຕື້ໂດລາຂອງ Bybit ໄດ້ກະຕຸ້ນການໂຕ້ວາທີກ່ຽວກັບຄວາມປອດໄພຂອງການແລກປ່ຽນສູນກາງ

Крипто грабежот на Bybit од 1,5 милијарди долари предизвика дебата за централизирана безбедност на размена

Bybit-ийн 1.5 тэрбум долларын Crypto Heist нь төвлөрсөн биржийн аюулгүй байдлын талаар маргаан өрнүүлэв.

O roubo de US$ 1,5 bilhão de criptomoedas da Bybit gera debate sobre a segurança de exchanges centralizadas

Bybitova lúpež kryptomien v hodnote 1,5 miliardy dolárov vyvolala diskusiu o centralizovanej burze bezpečnosti

Vjedhja e kriptove prej 1.5 miliardë dollarësh të Bybit ndez debatin mbi sigurinë e centralizuar të shkëmbimit

TL;DR I am shocked, appalled, and frustrated by how easily concepts can be distorted in the 21st century. The Bybit hack is 99% the result of the CEX team’s negligence and only 1% the skill of the hackers. Yet, the media has flipped the narrative: they emphasize that the attack was allegedly carried out by the Lazarus group, despite there being no concrete proof (apart from unverified claims by zachxbt and Arham). Below, I present my perspective based on facts to preserve them—since this incident will undoubtedly go down in history. Fact #1: There Was No Hack If we clearly distinguish between hack, social engineering, and targeted attack, it becomes evident that no actual hack occurred. Let me quote: “There was no code exploit. No leaked private keys. Bybit’s own multisig signers approved the transactions. They thought they were signing a routine transfer. Instead, they were handing over their entire cold wallet.” So what really happened? Bybit’s security team was incompetent.
They ignored the Radiant attack, which had identical attack vectors.
They attempted to shift the blame onto Safe, other companies, and "evil hackers." Arkham and Bybit were so focused on the third point that they failed to provide any real evidence. Fact #2: Visualization Replaces Reality Almost immediately, Arkham released a visual tracker displaying all transactions related to the "hack": Arkham Explorer. The problem? This visualization distracts from the real issue: Bybit made three unforgivable mistakes, meaning similar “hacks” may have occurred before, just on a smaller scale.
Without comparing past incidents, we cannot fully understand the scope of the issue. Fact #3: Lazarus is a Convenient Scapegoat Think about it: The CEO (who is the final signer) failed to verify transactions.
The security team is either nonexistent or completely ineffective.
A similar attack had already happened, and they ignored the warning signs.
And now they conveniently pin it all on Lazarus? Does it even matter who is on the "Dark Side" in this case? The answer may not be obvious, but no—it does not. Initial Takeaways Many praise Bybit for "not blocking withdrawals," but this is not an act of goodwill—it is their obligation. Funds on a CEX belong to users, not the exchange. Meanwhile, Bybit cleverly shifted blame onto Safe, forcing them to issue a public statement clarifying that no exploits were detected: Safe Statement. Then, Bybit latched onto the Lazarus narrative, announcing plans to involve law enforcement—while conveniently omitting the fact that the first investigation should focus on their own internal negligence. My Argument I find it suspicious how quickly the Lazarus group was introduced into this story. It’s either: A highly sophisticated entity that operates flawlessly without leaving a trace.
Or a group that "everyone sees and knows about," yet it somehow continues to function in secrecy. The second scenario seems highly unlikely. But most importantly, let’s be honest: Bybit is 99% responsible for this "hack" due to its failure to maintain internal and external security and its refusal to learn from past attacks.
Bybit falsely implicated other Web3 companies in this attack without presenting any evidence.
Bybit continues to distort facts, portraying this as a hack instead of sheer negligence. I don’t use Bybit or any other CEX because I believe decentralization is the best form of security. But I also refuse to let the media create a false narrative—one where Bybit is the victim, Web3 services are to blame, and "evil hackers" are the sole culprits. Bybit is the only proven guilty party in this incident. Everyone else’s role remains to be either proven or debunked. (And remember, Mt.Gox also talked a lot but never really delivered anything substantial). TL;DR TL;DR I am shocked, appalled, and frustrated by how easily concepts can be distorted in the 21st century. The Bybit hack is 99% the result of the CEX team’s negligence and only 1% the skill of the hackers. 99% Yet, the media has flipped the narrative: they emphasize that the attack was allegedly carried out by the Lazarus group, despite there being no concrete proof (apart from unverified claims by zachxbt and Arham). zachxbt Below, I present my perspective based on facts to preserve them—since this incident will undoubtedly go down in history. Fact #1: There Was No Hack Fact #1: There Was No Hack If we clearly distinguish between hack , social engineering , and targeted attack , it becomes evident that no actual hack occurred. Let me quote : hack social engineering targeted attack quote “There was no code exploit. No leaked private keys. Bybit’s own multisig signers approved the transactions. They thought they were signing a routine transfer. Instead, they were handing over their entire cold wallet.” “There was no code exploit. No leaked private keys. Bybit’s own multisig signers approved the transactions. They thought they were signing a routine transfer. Instead, they were handing over their entire cold wallet.” So what really happened? Bybit’s security team was incompetent. They ignored the Radiant attack, which had identical attack vectors. They attempted to shift the blame onto Safe, other companies, and "evil hackers." Bybit’s security team was incompetent . Bybit’s incompetent They ignored the Radiant attack , which had identical attack vectors. They ignored Radiant attack They attempted to shift the blame onto Safe, other companies, and "evil hackers." They attempted Arkham and Bybit were so focused on the third point that they failed to provide any real evidence. failed Fact #2: Visualization Replaces Reality Fact #2: Visualization Replaces Reality Almost immediately, Arkham released a visual tracker displaying all transactions related to the "hack": Arkham Explorer . Arkham Explorer The problem? This visualization distracts from the real issue: Bybit made three unforgivable mistakes, meaning similar “hacks” may have occurred before, just on a smaller scale. Without comparing past incidents, we cannot fully understand the scope of the issue. Bybit made three unforgivable mistakes, meaning similar “hacks” may have occurred before, just on a smaller scale. Without comparing past incidents, we cannot fully understand the scope of the issue. Fact #3: Lazarus is a Convenient Scapegoat Fact #3: Lazarus is a Convenient Scapegoat Think about it: The CEO (who is the final signer) failed to verify transactions. The security team is either nonexistent or completely ineffective. A similar attack had already happened, and they ignored the warning signs. And now they conveniently pin it all on Lazarus? The CEO (who is the final signer) failed to verify transactions. The security team is either nonexistent or completely ineffective. A similar attack had already happened, and they ignored the warning signs. And now they conveniently pin it all on Lazarus? Does it even matter who is on the "Dark Side" in this case? The answer may not be obvious, but no—it does not. Initial Takeaways Initial Takeaways Many praise Bybit for "not blocking withdrawals," but this is not an act of goodwill—it is their obligation. Funds on a CEX belong to users, not the exchange. Meanwhile, Bybit cleverly shifted blame onto Safe, forcing them to issue a public statement clarifying that no exploits were detected: Safe Statement . Safe Statement Then, Bybit latched onto the Lazarus narrative, announcing plans to involve law enforcement—while conveniently omitting the fact that the first investigation should focus on their own internal negligence. My Argument My Argument I find it suspicious how quickly the Lazarus group was introduced into this story. It’s either: A highly sophisticated entity that operates flawlessly without leaving a trace. Or a group that "everyone sees and knows about," yet it somehow continues to function in secrecy. A highly sophisticated entity that operates flawlessly without leaving a trace. Or a group that "everyone sees and knows about," yet it somehow continues to function in secrecy. The second scenario seems highly unlikely. But most importantly, let’s be honest: Bybit is 99% responsible for this "hack" due to its failure to maintain internal and external security and its refusal to learn from past attacks. Bybit falsely implicated other Web3 companies in this attack without presenting any evidence. Bybit continues to distort facts, portraying this as a hack instead of sheer negligence. Bybit is 99% responsible for this "hack" due to its failure to maintain internal and external security and its refusal to learn from past attacks. Bybit Bybit falsely implicated other Web3 companies in this attack without presenting any evidence. Bybit Bybit continues to distort facts, portraying this as a hack instead of sheer negligence. Bybit I don’t use Bybit or any other CEX because I believe decentralization is the best form of security. But I also refuse to let the media create a false narrative—one where Bybit is the victim , Web3 services are to blame, and "evil hackers" are the sole culprits. victim Web3 Bybit is the only proven guilty party in this incident. Everyone else’s role remains to be either proven or debunked. Bybit is the only proven guilty party in this incident. Everyone else’s role remains to be either proven or debunked. (And remember, Mt.Gox also talked a lot but never really delivered anything substantial).

Bybit Only Has Itself to Blame

لا يقع اللوم إلا على شركة Bybit

Bybit es el único culpable

ל-Bybit יש להאשים רק את עצמה

Bybit može kriviti samo sebe

バイビットは自らを責めるしかない

A Bybit só tem culpa de si mesma

Bybit má na svedomí len seba

Bybit'in tek suçu kendisidir

Bybit Yi Ti Na Sola Ntsena

Bybit chỉ có thể tự trách mình

I-Bybit Kuphela Izigxeka

Dubai, United Arab Emirates, January 23rd, 2025/Chainwire/--Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has shared its vision for 2025 during the livestream event: Keynote with Ben: In the Driving Seat to the Moon — Beat the Unknown. Ben Zhou, Co-founder and CEO, reflected on Bybit’s 2024 journey, emphasizing the company’s dedication to growth, innovation, and its guiding principle: 'Listen, Care, Improve.' The event, featuring insights from Bybit’s leadership team, highlighted key milestones, solutions to major challenges, and plans to empower users and advance the cryptocurrency ecosystem. A Transparent and User-Centric Approach Bybit’s 2025 vision is a testament to the company’s commitment to placing its users at the center of every initiative. Zhou, in a keynote address, underscored the importance of embracing both achievements and challenges. “To build a better Bybit for all, we must listen to our users, care deeply about their needs, and constantly improve. Our vision for 2025 reflects these values,” Zhou stated. The keynote showcased Bybit’s accomplishments in 2024 while openly discussing areas for improvement, underscoring the company’s pledge to maintain transparency and foster trust within its community. Staying Connected to Users At the core of Bybit’s philosophy lies an unwavering commitment to listening to its users. “Our goal is to be the exchange that truly understands its users and acts on their feedback,” Zhou emphasized during the keynote. This user-centric approach has driven Bybit to engage actively with its community to identify and address pain points. In 2024, the Bybit Card program, enhanced in response to user feedback, expanded into six regions with improved features such as faster support response times (reduced from 32 to 12 hours), better rates, and seamless integration with digital wallets like Apple Pay and Google Pay. Turning Challenges into Opportunities Bybit’s dedication to its users was exemplified in how it transformed challenges into growth opportunities. For instance, the $NOT coin incident, which impacted over 310,000 users, highlighted gaps in handling high traffic and trading volumes. Zhou remarked, “We listened, owned our mistakes, and used these experiences to build better systems.” These lessons enabled Bybit to seamlessly handle the $HMSTR token airdrop later in the year, delivering tokens to 4.3 million participants without delays. Bybit took this chance to build an effective traffic prediction model and upgraded its SOPs to manage massive volume spikes in the future. Stablecoin partnerships with Circle, Ethena, and Tether reinforced Bybit’s focus on user needs. These collaborations solidified Bybit’s position as a leader in USDC trading, achieving a 36% market share, while USDe dominated with a 99% market share in the second half of 2024. Advancing Products and the Industry Bybit’s pursuit of improvement translated into several innovations in 2024. TradeGPT, the industry-first platform’s AI-powered trading assistant, attracted over 5 million users, redefining how traders access insights and market analysis. Pre-Market Perpetuals, allowing traders to hedge and speculate before token launches, saw notable engagement with tokens like $HYPE and $TRUMP. The platform also enhanced its Puzzle Hunt program, combining gamified education with rewards, and continued expanding Launchpool, which simplifies earning rewards from promising projects. With ByVotes 2.0, users can gain a greater voice in project listings, reinforcing Bybit’s community-focused ethos. Bybit also launched bbSOL, the world’s first exchange-backed liquidity staking token on Solana, achieving a Total Value Locked (TVL) of $240 million within just five months. Bybit continued its role as an innovator in ecosystem expansion, forming strategic partnerships with Solana, TON, and Sui. These collaborations introduced new opportunities for users while underscoring Bybit’s commitment to fostering blockchain innovation. The exchange achieved record growth, tripling its user base to over 60 million and surpassing an average daily trading volume of $36 billion "Our progress is a reflection of the trust our users place in us and our determination to set new standards in the industry," Zhou remarked. A Visionary Roadmap for 2025 Bybit’s roadmap for 2025 reflects its core philosophy of Listen, Care, Improve, prioritizing tools, liquidity, and user-centric initiatives that redefine the crypto landscape. Strategic partnerships will further diversify Bybit’s offerings. Collaborations with Ethena have introduced innovations like USDe, and upcoming products such as real-world asset (RWA)-backed instruments, including T-bills, will enrich Bybit Earn’s portfolio. These initiatives align with Bybit’s commitment to integrating traditional assets into crypto portfolios, enhancing both flexibility and reliability. Bybit envisions a future deeply integrated with Web3 under the banner of The Future of Onchain Bybit: Your Gateway to Web3. This includes integrating on-chain asset management, advanced trading tools, and DeFi solutions into a seamless, all-in-one Web3 platform for all. Bybit also plans significant on-chain asset expansions and new wallet and infrastructure upgrades, while deepening integration with growing ecosystems like Atom, Ada, Babylon, Athena, Sei, Monad, Bera, and more. "Our roadmap for 2025 reflects our commitment to empowering users and advancing the crypto ecosystem," Zhou stated. "We will continue to innovate, improve, and make crypto accessible for everyone." #Bybit / #TheCryptoArk / #KeynotewithBen About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com. For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For updates, please follow: Bybit's Communities and Social Media Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here Dubai, United Arab Emirates, January 23rd, 2025/Chainwire/--Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has shared its vision for 2025 during the livestream event: Keynote with Ben: In the Driving Seat to the Moon — Beat the Unknown . Ben Zhou, Co-founder and CEO, reflected on Bybit’s 2024 journey, emphasizing the company’s dedication to growth, innovation, and its guiding principle: 'Listen, Care, Improve.' Keynote with Ben: In the Driving Seat to the Moon — Beat the Unknown Keynote with Ben: In the Driving Seat to the Moon — Beat the Unknown The event, featuring insights from Bybit’s leadership team, highlighted key milestones, solutions to major challenges, and plans to empower users and advance the cryptocurrency ecosystem. A Transparent and User-Centric Approach Bybit’s 2025 vision is a testament to the company’s commitment to placing its users at the center of every initiative. Zhou, in a keynote address, underscored the importance of embracing both achievements and challenges. “To build a better Bybit for all, we must listen to our users, care deeply about their needs, and constantly improve. Our vision for 2025 reflects these values,” Zhou stated. “To build a better Bybit for all, we must listen to our users, care deeply about their needs, and constantly improve. Our vision for 2025 reflects these values,” Zhou stated. The keynote showcased Bybit’s accomplishments in 2024 while openly discussing areas for improvement, underscoring the company’s pledge to maintain transparency and foster trust within its community. Staying Connected to Users At the core of Bybit’s philosophy lies an unwavering commitment to listening to its users. “Our goal is to be the exchange that truly understands its users and acts on their feedback,” Zhou emphasized during the keynote. “Our goal is to be the exchange that truly understands its users and acts on their feedback,” Zhou emphasized during the keynote. This user-centric approach has driven Bybit to engage actively with its community to identify and address pain points. In 2024, the Bybit Card program, enhanced in response to user feedback, expanded into six regions with improved features such as faster support response times (reduced from 32 to 12 hours), better rates, and seamless integration with digital wallets like Apple Pay and Google Pay. Turning Challenges into Opportunities Bybit’s dedication to its users was exemplified in how it transformed challenges into growth opportunities. For instance, the $NOT coin incident, which impacted over 310,000 users, highlighted gaps in handling high traffic and trading volumes. Zhou remarked, “We listened, owned our mistakes, and used these experiences to build better systems.” “We listened, owned our mistakes, and used these experiences to build better systems.” These lessons enabled Bybit to seamlessly handle the $HMSTR token airdrop later in the year, delivering tokens to 4.3 million participants without delays. Bybit took this chance to build an effective traffic prediction model and upgraded its SOPs to manage massive volume spikes in the future. Stablecoin partnerships with Circle, Ethena, and Tether reinforced Bybit’s focus on user needs. These collaborations solidified Bybit’s position as a leader in USDC trading, achieving a 36% market share, while USDe dominated with a 99% market share in the second half of 2024. Advancing Products and the Industry Bybit’s pursuit of improvement translated into several innovations in 2024. TradeGPT, the industry-first platform’s AI-powered trading assistant, attracted over 5 million users, redefining how traders access insights and market analysis. Pre-Market Perpetuals, allowing traders to hedge and speculate before token launches, saw notable engagement with tokens like $HYPE and $TRUMP. The platform also enhanced its Puzzle Hunt program, combining gamified education with rewards, and continued expanding Launchpool, which simplifies earning rewards from promising projects. With ByVotes 2.0, users can gain a greater voice in project listings, reinforcing Bybit’s community-focused ethos. Bybit also launched bbSOL, the world’s first exchange-backed liquidity staking token on Solana, achieving a Total Value Locked (TVL) of $240 million within just five months. Bybit continued its role as an innovator in ecosystem expansion, forming strategic partnerships with Solana, TON, and Sui. These collaborations introduced new opportunities for users while underscoring Bybit’s commitment to fostering blockchain innovation. The exchange achieved record growth, tripling its user base to over 60 million and surpassing an average daily trading volume of $36 billion "Our progress is a reflection of the trust our users place in us and our determination to set new standards in the industry," Zhou remarked. A Visionary Roadmap for 2025 Bybit’s roadmap for 2025 reflects its core philosophy of Listen, Care, Improve, prioritizing tools, liquidity, and user-centric initiatives that redefine the crypto landscape. Strategic partnerships will further diversify Bybit’s offerings. Collaborations with Ethena have introduced innovations like USDe, and upcoming products such as real-world asset (RWA)-backed instruments, including T-bills, will enrich Bybit Earn’s portfolio. These initiatives align with Bybit’s commitment to integrating traditional assets into crypto portfolios, enhancing both flexibility and reliability. Bybit envisions a future deeply integrated with Web3 under the banner of The Future of Onchain Bybit: Your Gateway to Web3. This includes integrating on-chain asset management, advanced trading tools, and DeFi solutions into a seamless, all-in-one Web3 platform for all. Bybit also plans significant on-chain asset expansions and new wallet and infrastructure upgrades, while deepening integration with growing ecosystems like Atom, Ada, Babylon, Athena, Sei, Monad, Bera, and more. "Our roadmap for 2025 reflects our commitment to empowering users and advancing the crypto ecosystem," Zhou stated. "We will continue to innovate, improve, and make crypto accessible for everyone." "Our roadmap for 2025 reflects our commitment to empowering users and advancing the crypto ecosystem," Zhou stated. "We will continue to innovate, improve, and make crypto accessible for everyone." #Bybit / #TheCryptoArk / #KeynotewithBen About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com . Bybit.com Bybit.com For more details about Bybit, please visit Bybit Press Bybit Press Bybit Press For media inquiries, please contact: media@bybit.com media@bybit.com media@bybit.com For updates, please follow: Bybit's Communities and Social Media Bybit's Communities and Social Media Bybit's Communities and Social Media Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here here here

Bybit Unveils 2025 Vision: A User-Centric Approach To Crypto Innovation

تكشف شركة Bybit عن رؤيتها لعام 2025: نهج يركز على المستخدم في مجال ابتكارات العملات المشفرة

Bybit ukax 2025 maran uñjäwip uñacht’ayi: Mä Usuario-Céntrico uñakipaña Cripto Innovación ukataki

Bybit presenta su visión para 2025: un enfoque centrado en el usuario para la innovación en criptomonedas

Bybit presenta a visión 2025: un enfoque centrado no usuario para a innovación criptográfica

A Bybit bemutatja a 2025-ös jövőképet: a kriptográfiai innováció felhasználóközpontú megközelítése

Bybitが2025年のビジョンを発表：暗号通貨イノベーションへのユーザー中心のアプローチ

Bybit 2025 Vision ачат: Крипто инновациясына колдонуучуга багытталган мамиле

Bybit ເປີດເຜີຍວິໄສທັດ 2025: ວິທີທີ່ຜູ້ໃຊ້ເປັນໃຈກາງໃນການປະດິດສ້າງ Crypto

Bybit revela a visão para 2025: uma abordagem centrada no usuário para a inovação em criptomoedas

Bybit odhaľuje víziu 2025: prístup zameraný na používateľov ku krypto inováciám

Бибит открива визију 2025: Приступ крипто иновацијама оријентисан на корисника

“Bybit” 2025 görnüşini görkezýär: Kripto innowasiýasyna ulanyjy merkezi çemeleşmesi

DUBAI, United Arab Emirates, December 18th, 2024/Chainwire/--Bybit,the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce the launch of its Private Wealth Management (PWM) service, tailored to meet the unique needs of high-net-worth individuals and institutional clients. This customized offering reflects Bybit's commitment to delivering premium financial solutions that empower clients in an increasingly sophisticated market environment with the surging importance of digital assets. As global markets become more complex, there is a growing demand for premium wealth management services, particularly in areas such as risk management and asset allocation. Additionally, digital assets have emerged as one of the key asset classes for high-net-worth individuals and institutional investors, offering unprecedented opportunities for growth and diversification. Bybit’s PWM service is designed to address these needs with precision and innovation: Tailored Portfolio Management: Customized investment strategies aligned with individual financial objectives.
Exclusive Investment Opportunities: Access to premium, high-return assets designed specifically for high-net-worth clients.
Bespoke Asset Allocation Strategies: Solutions to optimize returns while mitigating risks.
Uncompromising Asset Security: Industry-leading measures, including third-party custody, ensuring 100% security of digital assets.
Leading Market Insights: Timely updates on emerging trends in the crypto market, enabling clients to stay ahead of the curve. “At Bybit, we understand that every client’s financial journey is unique. Through our new Private Wealth Management service, we aim to provide customized, innovative solutions that not only help them grow their digital assets but also provide professional services in risk management and asset allocation," said Jerry Li, Head of Financial Products & Wealth Management at Bybit. With the growing significance of digital assets in diversified portfolios, Bybit’s PWM service offers high-net-worth clients a secure, seamless gateway to exclusive opportunities in this dynamic space. This new service reflects Bybit’s steadfast commitment to being a trusted partner in the cryptocurrency and digital asset markets, helping clients achieve their financial goals with confidence and clarity. #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For more information, please visit: https://www.bybit.com For updates, please follow: Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here DUBAI, United Arab Emirates, December 18th, 2024/Chainwire/--Bybit,the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce the launch of its Private Wealth Management (PWM) service , tailored to meet the unique needs of high-net-worth individuals and institutional clients. Private Wealth Management (PWM) service Private Wealth Management (PWM) service This customized offering reflects Bybit's commitment to delivering premium financial solutions that empower clients in an increasingly sophisticated market environment with the surging importance of digital assets. As global markets become more complex, there is a growing demand for premium wealth management services, particularly in areas such as risk management and asset allocation. Additionally, digital assets have emerged as one of the key asset classes for high-net-worth individuals and institutional investors, offering unprecedented opportunities for growth and diversification. Bybit’s PWM service is designed to address these needs with precision and innovation: Tailored Portfolio Management: Customized investment strategies aligned with individual financial objectives. Exclusive Investment Opportunities: Access to premium, high-return assets designed specifically for high-net-worth clients. Bespoke Asset Allocation Strategies: Solutions to optimize returns while mitigating risks. Uncompromising Asset Security: Industry-leading measures, including third-party custody, ensuring 100% security of digital assets. Leading Market Insights: Timely updates on emerging trends in the crypto market, enabling clients to stay ahead of the curve. Tailored Portfolio Management: Customized investment strategies aligned with individual financial objectives. Exclusive Investment Opportunities: Access to premium, high-return assets designed specifically for high-net-worth clients. Bespoke Asset Allocation Strategies: Solutions to optimize returns while mitigating risks. Uncompromising Asset Security: Industry-leading measures, including third-party custody, ensuring 100% security of digital assets. Leading Market Insights: Timely updates on emerging trends in the crypto market, enabling clients to stay ahead of the curve. “At Bybit, we understand that every client’s financial journey is unique. Through our new Private Wealth Management service, we aim to provide customized, innovative solutions that not only help them grow their digital assets but also provide professional services in risk management and asset allocation," said Jerry Li, Head of Financial Products & Wealth Management at Bybit. “At Bybit, we understand that every client’s financial journey is unique. Through our new Private Wealth Management service, we aim to provide customized, innovative solutions that not only help them grow their digital assets but also provide professional services in risk management and asset allocation," said Jerry Li, Head of Financial Products & Wealth Management at Bybit. With the growing significance of digital assets in diversified portfolios, Bybit’s PWM service offers high-net-worth clients a secure, seamless gateway to exclusive opportunities in this dynamic space. This new service reflects Bybit’s steadfast commitment to being a trusted partner in the cryptocurrency and digital asset markets, helping clients achieve their financial goals with confidence and clarity. #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. For more details about Bybit, please visit Bybit Press Bybit Press Bybit Press For media inquiries, please contact: media@bybit.com media@bybit.com media@bybit.com For more information, please visit: https://www.bybit.com https://www.bybit.com https://www.bybit.com For updates, please follow: Bybit's Communities and Social Media Bybit's Communities and Social Media Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube Discord Discord Facebook Facebook Instagram Instagram LinkedIn LinkedIn Reddit Reddit Telegram Telegram TikTok TikTok X X Youtube Youtube Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here here here

Bybit Introduces Private Wealth Management Service For High-Net-Worth Clients

Bybit ukax Servicio Privado de Gestión de Riqueza ukar uñt’ayi, Alto Valor Neto ukan Clientenakataki

Bybit představuje službu správy soukromého majetku pro klienty s vysokou čistou hodnotou

Η Bybit παρουσιάζει την υπηρεσία ιδιωτικής διαχείρισης περιουσίας για πελάτες υψηλής καθαρής αξίας

Bybit presenta un servicio de gestión de patrimonio privado para clientes con un alto patrimonio

Bybit מציגה שירות ניהול עושר פרטי ללקוחות בעלי שווי נטו

Bybit、富裕層顧客向けのプライベート資産管理サービスを導入

Bybit, 고액 자산 고객을 위한 개인 자산 관리 서비스 출시

Bybit жогорку таза кирешелүү кардарлар үчүн жеке байлыкты башкаруу кызматын киргизет

Bybit ແນະນໍາການບໍລິການຄຸ້ມຄອງຄວາມຮັ່ງມີສ່ວນຕົວສໍາລັບລູກຄ້າທີ່ມີຄ່າສຸດທິສູງ

Bybit introduceert Private Wealth Management Service voor vermogende klanten

Bybit wprowadza usługę zarządzania majątkiem prywatnym dla klientów o dużym majątku

Bybit yuqori daromadli mijozlar uchun shaxsiy boylikni boshqarish xizmatini taqdim etadi

DUBAI, United Arab Emirates, December 13th, 2024/Chainwire/--Bybit, the world’s second-largest cryptocurrency exchange by trading volume, continues to reinforce its commitment to transparency and regulatory compliance. In response to evolving regulations, Bybit has made the difficult but necessary decision to temporarily adjust the availability of its products and services within the European Economic Area (EEA). Paving the Way with MiCAR Compliance Bybit is actively pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria, a cornerstone of its compliance-first approach. This effort underscores Bybit’s dedication to aligning with stringent European regulatory standards, enhancing user protection, and delivering a secure trading environment. “Obtaining the MiCAR license will be a strategic milestone for Bybit,” said Ben Zhou, Co-founder and CEO of Bybit. “Our proactive stance ensures that we meet and exceed the expectations of both regulators and our users, as we work toward a future where innovation and compliance coexist seamlessly.” Temporary Adjustments to EEA Operations To ensure ongoing compliance with applicable regulatory laws, particularly regarding reverse solicitation, Bybit has made the difficult decision to generally cease all communication with the EEA region. This measure is intended to avoid any potential breach of the strict reverse solicitation principle. Existing customers' access to their crypto assets remains uninterrupted. Although this was a challenging decision, it was necessary for Bybit to maintain its compliance-first approach. Bybit is actively working towards obtaining a MiCAR license in Austria to become one of the first players in the EEA. Once the appropriate licensing is secured, Bybit will start engagement with its EEA clients in accordance with applicable laws. Balancing Innovation with Compliance “As cryptocurrency adoption continues to grow globally, it is Bybit's mission to deliver secure and reliable trading experiences underpinned by robust regulatory framework to all crypto communities," said Ben Zhou, Co-founder and CEO of Bybit. "To ensure we meet the highest standards and pave the way for a safer and more sustainable future for the industry, we've made the proactive decision to temporarily adjust our operations in the EEA. This allows us to focus on obtaining the necessary licenses and ensuring a fully compliant platform focused on serving EEA clients." Commitment to the EEA Market Bybit will be deeply committed to serving its EEA clients once it receives a MiCAR license. The company is actively engaging with regulatory authorities to expedite the licensing process and start full operations in the region. Bybit appreciates the support of its users as it navigates this pivotal regulatory journey. For questions or assistance, users are encouraged to contact Bybit’s Customer Support team via Live Chat. #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. For media inquiries, please contact: media@bybit.com Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here DUBAI, United Arab Emirates, December 13th, 2024/Chainwire/--Bybit, the world’s second-largest cryptocurrency exchange by trading volume, continues to reinforce its commitment to transparency and regulatory compliance. In response to evolving regulations, Bybit has made the difficult but necessary decision to temporarily adjust the availability of its products and services within the European Economic Area (EEA). Paving the Way with MiCAR Compliance Bybit is actively pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria, a cornerstone of its compliance-first approach. This effort underscores Bybit’s dedication to aligning with stringent European regulatory standards, enhancing user protection, and delivering a secure trading environment. “Obtaining the MiCAR license will be a strategic milestone for Bybit,” said Ben Zhou, Co-founder and CEO of Bybit. “Our proactive stance ensures that we meet and exceed the expectations of both regulators and our users, as we work toward a future where innovation and compliance coexist seamlessly.” “Obtaining the MiCAR license will be a strategic milestone for Bybit,” said Ben Zhou, Co-founder and CEO of Bybit. “Our proactive stance ensures that we meet and exceed the expectations of both regulators and our users, as we work toward a future where innovation and compliance coexist seamlessly.” Temporary Adjustments to EEA Operations To ensure ongoing compliance with applicable regulatory laws, particularly regarding reverse solicitation, Bybit has made the difficult decision to generally cease all communication with the EEA region. This measure is intended to avoid any potential breach of the strict reverse solicitation principle. Existing customers' access to their crypto assets remains uninterrupted. Although this was a challenging decision, it was necessary for Bybit to maintain its compliance-first approach. Bybit is actively working towards obtaining a MiCAR license in Austria to become one of the first players in the EEA. Once the appropriate licensing is secured, Bybit will start engagement with its EEA clients in accordance with applicable laws. Balancing Innovation with Compliance “As cryptocurrency adoption continues to grow globally, it is Bybit's mission to deliver secure and reliable trading experiences underpinned by robust regulatory framework to all crypto communities," said Ben Zhou, Co-founder and CEO of Bybit. “As cryptocurrency adoption continues to grow globally, it is Bybit's mission to deliver secure and reliable trading experiences underpinned by robust regulatory framework to all crypto communities," said Ben Zhou, Co-founder and CEO of Bybit. "To ensure we meet the highest standards and pave the way for a safer and more sustainable future for the industry, we've made the proactive decision to temporarily adjust our operations in the EEA. This allows us to focus on obtaining the necessary licenses and ensuring a fully compliant platform focused on serving EEA clients." "To ensure we meet the highest standards and pave the way for a safer and more sustainable future for the industry, we've made the proactive decision to temporarily adjust our operations in the EEA. This allows us to focus on obtaining the necessary licenses and ensuring a fully compliant platform focused on serving EEA clients." Commitment to the EEA Market Bybit will be deeply committed to serving its EEA clients once it receives a MiCAR license. The company is actively engaging with regulatory authorities to expedite the licensing process and start full operations in the region. Bybit appreciates the support of its users as it navigates this pivotal regulatory journey. For questions or assistance, users are encouraged to contact Bybit’s Customer Support team via Live Chat. #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. For media inquiries, please contact: media@bybit.com Contact Head of PR Tony Au Bybit tony.au@bybit.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here here here

Bybit Advances Regulatory Compliance, Temporarily Adjusts EEA Operations

Bybit прасоўвае адпаведнасць нарматыўным патрабаванням, часова карэктуе дзейнасць ЕЭЗ

Bybit avanza en el cumplimiento normativo y ajusta temporalmente sus operaciones en el EEE

Bybit-ը բարելավում է կանոնակարգման համապատասխանությունը, ժամանակավորապես կարգավորում է ԵՏՀ գործառնությունները

Bybit、規制遵守を推進し、EEAの業務を一時的に調整

„Bybit“ pagerina teisės aktų laikymąsi, laikinai koreguoja EEE operacijas

Bybit uzlabo atbilstību normatīvajiem aktiem, īslaicīgi pielāgo EEZ darbības

Bybit зохицуулалтын нийцлийг сайжруулж, EEA-ийн үйл ажиллагааг түр зохицуулдаг

Bybit e Tšwetša Pele Kobamelo ya Taolo, e Beakanya Mešomo ya EEA ka Nakwana

Bybit zwiększa zgodność z przepisami, tymczasowo dostosowuje operacje w EOG

Bybit zlepšuje súlad s predpismi, dočasne upravuje operácie v EHP

Bybit Advances Regulatory Compliance, Nenguva Inogadzirisa EEA Operations

Bybit ส่งเสริมการปฏิบัติตามกฎระเบียบ ปรับการดำเนินงาน EEA ชั่วคราว

BYBIT

bybit.com

1000-5000 employees

Since 2018

COMPANY RANKING

BYBIT

EVERGREEN INDEX #4060

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Bybit WIKI

BYBIT

bybit.com

1000-5000 employees

Since 2018

COMPANY RANKING

BYBIT

EVERGREEN INDEX #4060

HACKERNOON STORIES ON BYBIT

BYBIT NEWS & MENTIONS

Representing this company? Click here to claim and customize this page!

Bybit WIKI