Bybit Regains 7% Market Share Following February Security Breach
Bybit, a major crypto exchange, has recovered its market share to 7% following a significant security breach in February 2025 where hackers stole over $1.4 billion from its Ethereum cold wallet.
Key Points on Bybit's Recovery
- The hack raised concerns about centralized exchange vulnerabilities.
- Market share dropped to approximately 4% post-hack but has since rebounded to pre-hack levels.
- As of April 9, Bybit's 24-hour trading volume reached $4.29 billion, compared to Binance's $26.79 billion.
- Partnership with Zodia Custody aimed to enhance security and restore investor confidence.
- Market activity decline correlated with broader macroeconomic concerns prior to the hack.
Lazarus Group Indicted
- The FBI confirmed that North Korea's Lazarus Group was responsible for the theft.
- Efforts to launder the stolen funds through THORChain were tracked, with 89% of assets remaining traceable.
- A decrease in hacking activity attributed to resource shifts linked to geopolitical events was noted.