news 
Bybit Reclaims 7% Market Share After $1.46 Billion Hack
A significant recovery has been observed by Bybit, a leading cryptocurrency derivatives exchange platform, as it regains its pre-hack market share of about 7%. This remarkable turnaround is linked to renewed positive sentiment among market participants and an increase in trading volumes.
Bybit’s liquidity score now stands at an average of 713 on CoinMarketCap, with a daily volume of $4.29 billion. Although this is still lower than Binance’s massive $26.79 billion volume, the growth represents a notable rebound for the platform. The exchange has also partnered with Zodia Custody to strengthen its security measures, which may have contributed to this revival in investor confidence.
Market experts have pointed out that the decline in activity preceded the hack, as investors became increasingly cautious due to broader macroeconomic concerns. This suggests that not all of Bybit’s initial market decline can be directly attributed to the incident.
A positive development was the discovery that nearly 89% of the stolen funds remained traceable, indicating the growing effectiveness of tracking tools even when hackers attempt to conceal their activity using decentralized networks.
In a related development, it has been revealed that North Korea’s Lazarus Group, responsible for the attack, had their assets traced and linked back to them through blockchain analysis.
Source: https://www.coinspeaker.com/bybit-reclaims-7-percent-market-share-after-hack/
