Following a significant cyberattack resulting in $1.5 billion in unauthorized withdrawals on February 21, 2025, Bybit demonstrated remarkable resilience. An independent report revealed that the liquidity on its platform rebounded to pre-incident levels within 30 days, a first in the crypto industry after a crisis. Contributing factors included the proactive launch of Retail Price Improvement orders just before the attack, which helped stabilize trading. The recovery was not limited to Bitcoin, with over 80% reinstatement of the top 30 altcoins' market depth by March. This showcases Bybit's robust infrastructure and user trust.
Bybit's liquidity rebounded to pre-incident levels within just 30 days, showcasing the platform's resilience and prompt recovery after the largest hack in crypto history.
The timely introduction of Retail Price Improvement orders helped stabilize trading and protect users from unfavorable trading conditions following the cyberattack.
Despite the $1.5 billion hack, Bybit maintained operational continuity and demonstrated significant recovery in user confidence and market depth shortly thereafter.
Over 80% of the pre-hack market depth for the top 30 altcoins was restored by March, highlighting the overall strength of the altcoin market post-incident.
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