Bybit unveiled a major security overhaul following its $1.4 billion hack in February, with upgrades across audits, wallet protection and information security. Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has revealed a comprehensive security overhaul following its $1.4 billion hack in February. On Feb. 21, Bybit was hacked for over $1.4 billion in liquid-staked Ether (STETH), Mantle Staked ETH (mETH) and other ERC-20 tokens, making it one of the largest security breaches in crypto history. To bolster defenses, Bybit has implemented a three-pronged security upgrade, targeting security audits, wallet fortifications and information security improvements, according to a June 4 announcement shared with Cointelegraph. Read more
Thailand’s SEC has ordered Bybit, 1000X, CoinEx, OKX and XT.COM blocked nationwide, citing unlicensed operation and money-laundering concerns. Update (May 30, 2025, 11:30 am UTC): This article has been updated to add statements by a Bybit representative. The Thai Securities and Exchange Commission (SEC) will block five cryptocurrency exchanges, including Bybit and OKX, from operating in the country. According to a May 29 announcement, Bybit, 1000X, CoinEx, OKX and XT.COM will be blocked in the country on June 28. The SEC said the measure aims “to protect investors and crack down on illegal platforms used for money laundering.” Read more
Bybit has received regulatory approval under the EU's MiCA framework and has opened its European headquarters in Vienna. Bybit has obtained a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA), allowing the exchange to expand into the European market. The approval allows Bybit EU, registered under commercial number 636180i, to operate as a regulated crypto asset service provider (CASP) and extend its services across all 29 European Economic Area member states. As part of its expansion, Bybit has officially established its European headquarters in Vienna, Austria, according to a May 29 news release shared with Cointelegraph. Read more
The $38 million crypto seizure from Bybit hack-linked eXch was the third-largest crypto confiscation in the history of Germany’s federal criminal police. German law enforcement seized 34 million euros ($38 million) in cryptocurrency from eXch, a cryptocurrency platform allegedly used to launder funds stolen after Bybit’s record-breaking $1.4 billion hack. The seizure, announced on May 9 by Germany’s Federal Criminal Police Office (BKA) and Frankfurt’s main prosecutor’s office, involved multiple crypto assets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Dash (DASH). The move marks the third-largest crypto confiscation in the BKA’s history. The authorities also seized eXch’s German server infrastructure with over eight terabytes of data and shut down the platform, the announcement added. Read more
Bybit is the second-largest cryptocurrency exchange by trading volume in the world, behind only the Binance exchange. The Bybit exchange has recovered its liquidity to pre-hack levels just 30 days following the February 2025 attack that drained nearly $1.5 billion in funds. According to a report from crypto research and analytics firm Kaiko, Bitcoin's (BTC) 1% market depth, a measure of liquidity, returned to pre-hack levels of around $13 million per day in March 2025. Altcoin liquidity levels on the exchange have been slower to recover than Bitcoin but have rebounded to around 80% of the pre-hack levels. The authors of the Kaiko report added: Read more