Bybit has successfully regained its market share to over 7% following a $1.4 billion hack that occurred in February. Despite a wider trend of de-risking in the cryptocurrency market, Bybit implemented tighter security measures and improved liquidity options, helping to restore trader confidence. According to a report from crypto analytics firm Block Scholes, Bybit's market share dropped to 4% post-hack but has steadily recovered, reflecting renewed spot market activity and trading volumes. The exploit was attributed to attackers using decentralized cross-chain protocols to launder stolen funds. While North Korean cyber actors were suspected, the report highlighted that the overall decline in trading was also influenced by prior macroeconomic conditions. Analysts noted that the Bybit incident underscores the vulnerabilities even in centralized exchanges, aligning it with previous high-profile hacks in the industry.

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