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Bybit Restores Assets and Confidence Through Transparent Recovery Process
Dubai, United Arab Emirates – February 28th, 2025 – In a significant step towards restoring trust with its global user base, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced substantial progress in recovering assets and rebuilding confidence following a recent security incident.
The company has taken swift and decisive actions to reinforce its security measures and protect its users. As a result, Bybit has successfully restored 77% of its Assets Under Management (AUM) to pre-incident levels, demonstrating the effectiveness of its robust recovery strategy.
Moreover, Bybit has made significant strides in enhancing liquidity across top trading pairs, now offering superior spot liquidity for over 180 pairs, surpassing industry benchmarks. This substantial improvement reflects the platform’s renewed focus on user confidence and satisfaction.
Notably, contract market resilience has exceeded expectations, with the top two indices reaching approximately 86% of normal levels and the top 70 exceeding 87%. Furthermore, trading activity remains strong, with volumes exceeding $40 billion over the past two days.
In alignment with its commitment to transparency, Bybit has conducted an additional proof of reserves audit, supplementing its regular monthly verifications. The results confirm that all client assets are fully collateralized: BTC (102%), ETH (102%), SOL (103%), USDT (104%), USDE (116%), and USDC (229%). These figures unequivocally demonstrate Bybit’s financial stability and unwavering commitment to ensuring client assets remain fully backed at all times.
“We have taken swift and decisive actions to reinforce our security measures and protect our users. Our top priority is to maintain the highest standards of transparency, resilience, and trust,” emphasized Ben Zhou, Co-founder and CEO of Bybit.
“The unwavering support from our clients and partners has been instrumental in our rapid recovery.”
Bybit’s dedication to openness has enabled it to strengthen its position as a leader in the decentralized financial (DeFi) ecosystem.
