The Singapore-based crypto exchange Bybit says it’s suffered a major security breach involving its Ethereum (ETH) cold wallet. According to the crypto analysis firm Arkham, about $1.4 billion in ETH and stETH has been taken. CEO Ben Zhou says the breach happened when an ETH transfer to a warm wallet was manipulated through a sophisticated […]
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The world’s second-largest crypto exchange by trading volume is re-entering the Indian market after securing mandatory registration with regulators and paying a $1 million fine. Last month, Dubai-based exchange Bybit announced a temporary suspension in India, preventing users in the country from opening trades or accessing products on its platform and only allowing withdrawal transactions. […]
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Bybit will continue honoring user withdrawal requests despite temporarily halting other services.
Bybit, a global crypto exchange, announced a temporary suspension of its crypto trading services in India, citing regulatory developments.
Starting Jan. 12 at 8:00 am UTC, Bybit will restrict several services, including cryptocurrency trading, account openings and placing orders through other exchange products.
Bybit attributed the decision to its goal of operating in “full compliance with all applicable rules and regulations,” the exchange stated in a Jan. 10 announcement, adding:
Malaysia has ordered Bybit to halt its crypto exchange operations in the country, as regulators crack down on unregistered platforms. Bybit Faces Enforcement in Malaysia Over Unregistered Crypto Exchange Operations The Securities Commission Malaysia (SC) announced on Dec. 27 that it has taken enforcement measures against Bybit Technology Ltd. and its CEO, Ben Zhou, citing […]
Crypto exchange Bybit will cease withdrawal and custody services for French users starting Jan. 8, 2025, citing regulatory changes, urging users to withdraw assets promptly to avoid disruptions. Bybit to End Withdrawals in France Bybit, a global cryptocurrency exchange, has announced it will no longer provide withdrawal and custody services to users in France, starting […]
Bybit’s November market report points toward Ethereum gaining traction as Bitcoin dominance fades.
Ether (ETH) outshined Bitcoin (BTC) in the cryptocurrency spot and derivative markets after the United States Nov. 5 presidential election and keeps gaining momentum, according to a Dec. 2 report by crypto exchange Bybit.
In November, Ether “gained significant traction against BTC, as reflected by the sharp drops in the ratio between their spot prices,” Bybit said in its November 2024 Volatility Review, co-created by market researcher Block Scholes.
Growing demand for ETH options also indicates “[t]raders are increasingly favoring ETH,” Bybit said in a statement.
Bybit has announced its commitment to assist communities affected by the catastrophic floods in Valencia and other regions of Spain, which have resulted in over 200 fatalities, thousands of displaced individuals, and extensive infrastructure damage. In partnership with the local non-profit organization Admundi, which focuses on improving the lives of impoverished children, Bybit is mobilizing […]
Bybit has announced its registration as a Virtual Asset Service Provider (VASP) by the National Bank of Georgia, marking a significant step in the company’s commitment to regulatory compliance in the country. This registration aligns with Bybit’s global compliance strategy, which has seen the company secure licenses in key markets such as the Netherlands, Kazakhstan, […]
The bankrupt crypto exchange FTX has reached a settlement with the digital asset exchange Bybit to the tune of hundreds of millions of dollars. Last week, FTX’s legal team submitted a motion approving a settlement agreement with Bybit stemming from FTX’s claims that Bybit had refused to allow the bankrupt firm to withdraw assets currently […]
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The prices of Bitcoin and other digital assets were significantly lower during the 2022 collapse of FTX compared to current market prices.
The FTX bankruptcy estate agreed to a $228 million settlement with the Bybit exchange in an Oct. 24 legal filing, for a lawsuit first filed in 2023 by the FTX estate, seeking to recover funds to repay former customers and creditors.
According to the legal filing, the settlement agreement will allow FTX to withdraw $175 million in digital assets held on Bybit and sell approximately $53 million in BIT tokens to Mirana Corp — an investment division of the Bybit exchange. Attorneys for FTX noted that while their claims have merit, further litigation would prove cumbersome:
The settlement deal must still be approved by a court, and a hearing to ratify the agreement between the two parties is scheduled for November 20, 2024, at 2 PM Eastern time.
