Bybit suffered a major hacking incident on February 21, 2025, affecting one of Bybit's Ethereum cold wallets and resulting in almost $1.5 billion in losses.

Bybit suffered a major hacking incident on Feb 21, 2025, affecting one of Bybit's Ethereum cold wallets and resulting in almost $1.5 billion in losses. The exploit is linked to the North Korean state-backed Lazarus Group.

 — Bybit conducted a routine transfer from one of our Ethereum multisig cold wallets to a warm wallet, first transferring an amount of 30,000 ETH.

 — Hackers exploited the UI of the Safe multisig cold wallet through a sophisticated phishing attack, musking the specific transaction, which resulted in the change in smart contract logic of the ETH cold wallet. This allowed hackers to transfer out the funds from the compromised cold wallet, splitting it all across 39 addresses.

Only a single Bybit cold wallet was compromised, resulting in the loss of $1.46 billion as follows:

 — Bybit's co-founder and CEO Ben Zhou 

 about the evolving situation, informing the community early on that the hackers "took control of the specific ETH cold wallet," and assuring users that Bybit is solvent and can cover the loss, ensuring client assets are backed 1:1.

 that "Bybit is Solvent even if this hack loss is not recovered, [and] all of clients' assets are 1 to 1 backed, [so] we can cover the loss."

 to explain the situation transparently to affected users.

Through a phishing attack on the Ethereum cold wallet multisig signers, the transaction and Safe UI was spoofed, allowing the hacker to change the smart contract logic of the multisig wallet. This allowed the hacker to gain control of the Bybit cold wallet, and to transfer out the funds. Our team is still investigating how the hacker was able to spoof the cold wallet, and we will release a full postmortem report shortly.

Ben stated during a livestream that there are currently no plans to purchase ETH. However, he emphasized that the company is actively seeking assistance and leveraging bridge loans from partners, in order to navigate liquidity constraints during this critical period.

Ben clarified that Bitcoin remains the primary reserve asset, and that other cold wallets remain unaffected.

Ben reassured users that all products and services are operating as usual. Withdrawals have not been halted, and continue to be processed as normal.

Bybit’s Head of Derivatives and Institutional, Shunyet Jan, confirmed during the livestream that the platform’s P2P services are functioning normally.

 — ZachXBT submitted definitive proof linking the attack to the Lazarus Group, a North Korean cybercriminal organization, and 

 the bounty from Arkham Intelligence. His analysis included test transactions, connected wallets, forensic graphs and timing details. 

 to ZachXBT, the cluster of addresses is also linked to the Phemex and BingX hack.

 40,000 ETH to Bybit, exhibiting the strong support demonstrated by industry partners and peers.

 the case to the appropriate authorities, and will provide updates as soon as further information becomes available. It actively collaborated with on-chain analytics providers in order to identify and demix the implicated addresses.

 that 99.994% of over 350,000 withdrawal requests had been processed within 10 hours following the hack, with the Bybit team working around the clock to ensure smooth operations and assure client concerns.

 that there was neither any compromise of its codebase, nor any malicious dependencies, and no other Safe addresses were affected. Following the incident, Safe has temporarily paused its {Wallet} functionality in order to conduct a thorough review of service.

 that the Bybit hack was significant, and had dealt a heavy blow to the industry. However, Bybit’s reserves still exceed its liabilities, and its user funds remain fully backed.

 that all withdrawals have been processed, and that the platform has resumed normal operations, less than 12 hours after the $1.4 billion hacking incident, the largest in the industry to date.

 — According to the latest monitoring data from 

, over $4 billion in funds have flowed into the Bybit trading platform in the past 12 hours. Comparative fund inflow analysis indicates that this capital influx has fully covered the shortfall caused by yesterday’s hack.

 on X, stating that while they have made every effort to assist, as a decentralized protocol they’re unable to fully block, freeze or redirect any funds.

 — Ben and Shunyet held a Chinese-language 

 with ETHPanda, Wu Blockchain, Bitget CEO Gracy Chen and other participants, in order to discuss the hack incident and share their insights on how to manage it.

 that Tether had frozen $181,000 USDT linked to the hack.

 approximately $4 billion in withdrawals following the surge (post-exploit). Hacken confirmed that Bybit's user funds remain fully backed, with reserves still exceeding liabilities.

 — Bybit launched a Recovery Bounty Program, with a reward of 10% of the stolen funds. To participate, contact Bybit at 

 with Crypto Town Hall, to discuss how he was handling the situation post-hack; the industry support Bybit received from peers, such as Bitget; and the way that the Bybit team was working tirelessly to handle the crisis. 

Ben also stated that rolling back Ethereum should be a community decision, rather than an individual choice, possibly through a vote.

 that the issue goes beyond Bybit or any single entity, stating, "It’s about our industry's approach to hackers." He urged eXch to reconsider and assist in blocking the outflow of funds.

 that all deposits and withdrawals have resumed to normal levels.

 — In total, $42.89 million of exploited funds were frozen, 

 of industry partners, including Tether, THORchain, ChangeNOW, FixedFloat, Avalanche, CoinEx, Bitget and Circle. Additionally, mETH Protocol recovered 15,000 cmETH tokens worth nearly $43 million.

 $1.23 billion in ETH through bridge loans, whale deposits and OTC purchases, effectively covering the ETH deficit from the exploit.

— Hacken, an independent blockchain security firm, 

 an updated proof-of-reserves (PoR) report. Bybit has fully closed the ETH gap of client assets within 72 hours, through strategic partnerships with Galaxy Digital, FalconX, Wintermute and others, along with support from Bitget, MEXC and DWF Labs. Key assets, such as BTC, ETH, SOL, USDT and USDC, exceed 100% collateral ratios. Users can read the full report 

 the launch of the LazarusBounty program — the industry-first bounty platform that specifically aims to recover funds allegedly stolen by the North Korean state-backed Lazarus Group in the Bybit exploit.

 the preliminary reports of the hack. These reports, conducted by Sygnia Labs and Verichains, both have suggested that the root cause of the hack was due to malicious JavaScript code on Safe{Wallet}'s platform, and no vulnerability was detected in Bybit's infrastructure. For more information, download the reports 

 the V1.1 update to the LazarusBounty platform, which added the following:

Beginner

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Bybit Security Incident: Timeline of Events and FAQs

Celebrate our journey on Bybit Learn throughout 2024 as we go through the highlights of your crypto learning journey, and look at what’s on the horizon in 2025.

The year 2024 was a landmark year for the cryptocurrency industry, marked by significant events that reshaped the landscape of digital assets.

The year kicked off with a bang as the U.S. Securities and Exchange Commission (SEC) approved 

 in early 2024. This approval not only legitimized Bitcoin in the eyes of traditional investors, but also paved the way for massive institutional investment into the cryptocurrency market.

Market sentiment turned bullish in March, driven by the successful Bitcoin Spot ETF launch. Bitcoin's price surged and broke its 2021 all-time high (ATH) price of $69,000. This marked the first time Bitcoin made a new ATH before a Bitcoin halving event.

Bitcoin underwent the most recent and much-anticipated 

 in April 2024, which reduced the reward for mining new blocks, effectively halving the rate at which new BTC are generated.

Finally, in November 2024, Donald Trump was re-elected as president of the United States, which had a profound impact on the crypto market. His administration's pro-crypto stance included pledges to make the U.S. the "crypto capital of the world." This fueled optimism and drove Bitcoin’s price above the historical 

Throughout this tumultuous and exciting year, 

 was a steadfast companion for crypto enthusiasts and investors, providing educational content, daily market updates, research reports and more.

This article celebrates our collective journey on Bybit Learn throughout 2024, encapsulating the learning and growth within the ever-changing crypto space.

Your Favorite Crypto Page-Turners This Year

Bybit Learn readers dove headfirst into the deep end of crypto in 2024, embracing our most captivating pieces as if they were the last episodes of your favorite Netflix series. From blockchain basics to meme coin trading, you've shown that when it comes to learning, you're all in for the long haul.

Time flies. Not too long ago, we covered a 

, one of your favorite articles. Now, we’re celebrating 2024, and what a year it has been. Bybit launched numerous innovative products, with 

 one of the most interesting to our readers. The TON ecosystem drew 

 among the top few. Our readers constantly leveled up their crypto knowledge, especially in 

The Topics You Couldn't Stop Learning About

Your curiosity took the wheel this year, as you navigated through topics like a pro. Your top picks? A ride through this year’s crypto trends that had you on the edge of your seat. 

 topics was our readers' favorite pastime, and it's no surprise, given Bybit’s exciting 

 is a hot topic. After all, we’re the second-largest crypto exchange by trading volume. 

, the talk of the town for the whole year, are rightfully among the top picks, as is 

, which had a stellar year and also broke ATHs multiple times. Rounding out the top six are 

You joined the ranks of the crypto curious, rallying behind campaigns that not only educated but also inspired action. These were the campaigns that made you feel part of something bigger, turning learning into a community event.

 and generated over $100 billion in trading volume in the competition’s fourth edition. Next are Bybit’s 

, testaments to the ever-growing popularity of trading bots. Bybit’s 

 introduced newcomers to the world of trading, while TON enthusiasts got their hands on over $200,000 in airdrops during the 

Like a true crypto adventurer, you've climbed the ranks of knowledge with our R2E courses. These were your go-to guides, turning you from a rookie to a crypto sage. 

In celebration of a significant milestone, 

 course was one of your top picks. Speaking of milestones, the launch of 

 were popular courses too. You also loved

The Bybit Learn Report That Was Your Crypto Bible

Among the sea of reports, one stood out as your beacon of insight. It wasn't just data; it was the story of the year, the one report that had you nodding in agreement and scribbling notes for future reference.

 report took top spot among Bybit Learn readers. As the crypto markets heated up, our 

 report offered you the insights to navigate through the volatility. The U.S. election had everyone on edge, and our 

 helped break down the implications for crypto. We also dissected the derivatives market in our 

 report, giving traders an edge. Our recently launched 

 shed light on crypto whales. And let's not forget to celebrate 

 report — a testament to our journey together.

Live and in action, you tuned into the livestream that felt like the live concert of the crypto world. The energy, the insights, the community interaction — this was where you felt most connected.

, giving you the lowdown on winning strategies. Then, we caught the wave with 

, sharing tips on how to capitalize on those market highs. Our 

 session introduced a fun way to engage with crypto right from your fingertips. For those of you diving deep into charts, 

 leveled up your technical knowledge. We also explored broad strategies in 

As we look forward, the horizon seems bright and buzzing with potential. The coming year of 2025 is shaping up to be one in which the crypto narrative writes new chapters.

In 2025, many are watching for a significant shift in the regulatory landscape, particularly with Donald Trump set to assume office as U.S. president in January 2025. Trump’s recent appointment of pro-crypto candidates, such as David Sacks as his "White House A.I. & Crypto Czar," could spur a resurgence in innovation in the U.S. 

Many experts predict that there will be more defined regulations globally, particularly in regions like Europe and the United States. Clearer regulatory frameworks are expected to spur institutional adoption, providing a level of certainty that could attract more traditional investors to the crypto space.

Technological advancements and new use cases for blockchain technology, such as AI integration, could be significant drivers. The integration of AI in cryptocurrency projects, particularly in the recent growth of 

, could see the combination of AI and blockchain establish itself as a major trend.

Finally, the broader economic environment, including potential Fed rate adjustments and geopolitical stability, could contribute to a bullish market for cryptocurrencies in 2025.

You asked and we listened. Bybit Learn is set to launch a community hub for you, our readers. Comment, like, share and engage in interesting conversations with fellow readers on the hottest topics in crypto.

Love our livestreams? Get ready to tune in to even more engaging and interesting content from our team, from helping you understand markets to mastering Bybit products.

Finally, look forward to more partnerships and reports from esteemed partners to help you navigate the choppy waters of crypto.

Next year promises to be a blockbuster, with new courses, exciting campaigns and groundbreaking reports. Like waiting for the next season of your favorite show, you're in for more learning adventures that will redefine your crypto journey.

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Bybit Learn Wrapped 2024

Bybit WSOT 2024 broke records with $100B in trading volume, over 77,000 traders and innovative events such as the DEX Wave. This recap dives into highlights, top performers and key stats.

The Bybit World Series of Trading (WSOT) is a premier global trading competition that continues to set new benchmarks in the crypto industry. WSOT 2024 saw record-breaking participation, with over 77,000 traders from 161 countries generating $100 billion in trading volume. 

This year’s event introduced features like the WSOT DEX Wave, tiered competition leagues and ROI reset options, making the competition more accessible and fair.

This article provides a detailed overview of WSOT 2024, including its highlights, innovative features and exceptional performances by individuals and squads. It also examines Bybit’s efforts to integrate traditional finance (TradFi) and 

 (DeFi) to push the boundaries of crypto trading.

 has become one of the world’s most prominent cryptocurrency trading competitions. Designed to celebrate trading excellence and foster a sense of community, WSOT attracts participants from across the globe who compete for prestige and significant rewards.

The 2024 edition of WSOT raised the stakes with a prize pool of up to 10,000,000 USDT, distributed across three competitive leagues tailored to traders’ capital size:

WSOT 2024 emphasized inclusivity with its structured tiers, enabling traders of all levels to participate. Coupled with advanced features such as ROI resets and strategic use of 

 (UTA), this year’s competition underscored Bybit’s commitment to innovation and fostering global engagement in crypto trading.

The Bybit WSOT has grown into the world’s largest crypto trading competition, showcasing exceptional trading talent and innovation since its 2020 inception. Each following year, WSOT has raised the bar with increasing participation, prize pools and charitable contributions.

Key highlights from past WSOT events include:

With each successive edition, WSOT has further cemented its place as a premier trading competition, combining inclusivity, high stakes and global community engagement.

WSOT 2024: Key Highlights and Records Broken

WSOT 2024 set new standards for crypto trading competitions, attracting worldwide participation and breaking multiple records. This year’s event highlighted the scale, inclusivity and competitive spirit of the global trading community.

WSOT 2024 redefined crypto trading competitions, merging innovation with inclusivity. The event’s record-breaking achievements, robust community engagement and impressive prize pools underscore Bybit’s commitment to elevating the trading experience.

With features like DEX integration and tiered competitions, WSOT continues to push boundaries, setting a benchmark for global crypto events.

WSOT DEX Wave: Expanding Into Decentralized Trading

Introduced at WSOT 2024, WSOT DEX Wave brought DeFi and web3 trading into the spotlight. This new segment allows participants to explore and engage with a variety of web3 projects, competing for the 1,000,000 MNT prize pool while navigating the growing 

Participants evaluated over 100 web3 projects, casting votes and contributing 120,000 voting points. The competition featured a fair weighting system, ensuring all projects received a balanced opportunity for recognition.

By engaging with real-use cases, traders not only demonstrated their skills but also gained deeper insights into emerging decentralized technologies.

DEX Wave introduced a new dynamic to WSOT, encouraging traders to bridge the gap between traditional trading and the decentralized market. By focusing on web3 projects, the event underlined the expanding role of decentralized platforms in the evolving crypto landscape.

With record-breaking participation and $100 billion in trading volume, Bybit WSOT 2024 set a new benchmark for crypto trading competitions. The event showcased Bybit’s commitment to innovation, fair competition and a seamless trading experience, solidifying its position as a leader in advancing the global cryptocurrency trading ecosystem.

Intermediate

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Bybit WSOT 2024 Recap: Record-Breaking Year

Explore our article to find out more about Bybit’s collaboration with Oracle Red Bull Racing during TOKEN2049 Singapore 2024.

At the intersection of high-speed Formula One racing and cryptocurrency trading, TOKEN2049 2024 unfolded as a testament to innovation and collaboration. Held in Singapore from Sep 18–19, 2024, this premier annual gathering of the brightest minds in the blockchain and cryptocurrency sectors delved into the synergistic relationship between the precision of motorsports and the volatility of the crypto market. TOKEN2049 Singapore 2024 offered its attendees a unique perspective on the integration of sports, technology and finance.

TOKEN2049 Singapore 2024: From Racetrack to Cryptosphere: The DNA of Champions

The highlight of TOKEN2049 Day 1 was undoubtedly the panel featuring Bybit’s co-founder and CEO, Ben Zhou, alongside Oracle Red Bull Racing drivers Max Verstappen and Sergio “Checo” Pérez. Moderated by Caroline Buckland, Head of Global Fan Engagement at Oracle Red Bull Racing, the session promised an intriguing look at the parallels between Formula One and the cryptosphere. The room was packed and the air thick with anticipation as attendees filled every available seat, with some standing at the sides, not wanting to miss a moment. As the panelists took the stage the crowd roared with excitement, with some running to the front of the stage to capture photos of the stars up close. 

From Racetrack to Cryptosphere: The DNA of Champions,

 certainly didn’t disappoint. It offered a fascinating dive into the worlds of elite racing and crypto trading — arenas in which precision and resilience are paramount. Ben, Max and Checo shared insights on what drives them in their respective high-pressure environments. 

Checo Pérez highlighted the importance of team support and mutual dedication, noting that understanding and appreciating the efforts of those around him keeps him motivated. Max Verstappen echoed this sentiment, emphasizing the camaraderie and collective effort within the team as key to maintaining high performance. He emphasized the personal commitment to giving 100%, recognizing the crucial support from the team that makes this possible.

The panel members also shared how they balance their professional and personal lives. Max, who has become adept at managing his hectic schedule, emphasized the importance of making the most of his time between races. "There are 24 race weekends, and in between, it's important to enjoy and explore the different cities," he shared. He also highlighted the significance of spending time catching up with family and friends. Max acknowledged that as he gets older, managing sleep and adjusting to various time zones has become more challenging, yet it's crucial for maintaining his performance.

Checo spoke about the constant public attention that comes with being a Formula One driver, describing how fans often approach him for pictures and follow his movements closely. "Our work is in the public eye," he noted, explaining the necessity of drawing a firm line between his professional and personal life. At home, Checo transitions from the celebrity on the track to a dedicated father. "I have four kids at home, and when the helmet and suit come off, I'm just a regular person who loves spending time with them," he said. This separation, according to Checo, is essential not just for personal well-being but also for being fully present and effective in both realms of his life. He emphasized the importance of giving his best whether he’s at work or at home, ensuring dedication and focus in every aspect of his life.

Ben elaborated on Bybit's core values — Listen, Care, and Improve — which guide its operations and interactions with millions of retail and institutional clients. He described as fundamental to Bybit’s business the process of engaging closely with users to understand their needs and gather feedback. The partnership with Oracle Red Bull Racing resonates deeply with Bybit's approach, as Formula One's global circuit mirrors Bybit's commitment to meet and serve clients internationally. This synergy is enhanced by the excitement and engagement that F1 stars like Max and Checo bring to events, making these interactions memorable for the clients. 

Ben also drew parallels between the constant evolution in F1 and Bybit's need to stay ahead of fast-moving market trends and regulatory changes, highlighting its around-the-clock efforts to innovate and adapt — which makes the partnership both challenging and rewarding.

Looking to the future, Ben outlined Bybit's aspiration to be the gateway to 

, acknowledging the rapidly growing industry alongside increasing crypto adoption by most countries. With Europe set to embrace crypto through regulatory frameworks like MiCA, Bybit is poised to innovate and expand its reach globally, including launching the Bybit Card to meet diverse client needs in regions like Turkey, Brazil and Argentina. The collaboration with Oracle Red Bull Racing has already yielded successful ventures, such as 

, and Bybit plans to continue implementing its plans for innovation and globalization.

This wasn’t just another discussion; it was a rare glimpse into the mindset required to excel at the apex of sports and finance. 

The day set a compelling tone for the rest of TOKEN2049, establishing the high level of expected discourse and articulating the unique intersections of interest that the event celebrates.

Bybit x Oracle Red Bull Racing x AOI: The Rise and Success of Data-Driven Art

On Sep 18, 2024, Oracle Red Bull Racing and Bybit hosted an exclusive event celebrating two decades of racing excellence, merging art, NFTs and motorsport through a unique lens. Renowned artist Martin Grasser guided attendees through a visual history of Oracle Red Bull Racing cars from 2005–2024, complemented by Singapore-inspired cocktails.

During the Bybit x Oracle Red Bull Racing x AOI livestream, key figures from Oracle Red Bull Racing and Bybit discussed the transformative integration of web3 technologies to enhance fan engagement. The highlight of the conversation was the introduction of Oracle Red Bull Racing Velocity Series 2.0, which uses racing data to create unique digital artworks, showcasing the evolving interaction between fans, art and motorsport.

This year's TOKEN2049 panels, particularly those featuring the Oracle Red Bull Racing star drivers and crypto leaders, highlighted the parallels in precision, performance and innovation that define both fields. This exploration enriched our understanding of how these industries complement each other, and set set the stage for future collaborations. 

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Bybit x Oracle Red Bull Racing 2024: Where Sports & Crypto Meet

TOKEN2049 is an annual flagship event where luminaries from the cryptocurrency world congregate. Take a look at the highlights of the event in this article.

TOKEN2049 emerges as a flagship event, annually gathering luminaries from the cryptocurrency world. More than just a conference, it's a focal point for global thought leaders, innovators and enthusiasts who converge to shape the future of blockchain technology. This year, the focus expanded beyond traditional cryptocurrency dialogues to explore the burgeoning synergy between AI and blockchain technology.

The conference was enriched by a series of diverse side events, including Solana Breakpoint 2024, and several unique gatherings hosted by Bybit in collaboration with various partners, such as 1Token, SignalPlus, Oracle Red Bull Racing, AOI, Solana, the Blockchain for Good Alliance, Hashed, Delphi and Pulsar.

Each of the side events highlighted the dynamic interplay between cutting-edge technology and practical applications in the real world. From detailed explorations of decentralized finance (DeFi) to creative uses of NFTs in sports and art, TOKEN2049 provided a comprehensive view of how blockchain technology is not just growing but thriving through collaborative efforts across various domains.

On the first day of TOKEN2049 Singapore, attendees from around the world streamed through the doors of Marina Bay Sands Expo and Convention Centre, badges swinging, with an air of anticipation that filled the spacious venue. The registration area was lively from the get-go, bustling with the kind of vibrant chatter and eager exchanges that you’d expect from a gathering of the world’s crypto enthusiasts.

As people checked in, many made a beeline for the exhibit halls that spanned three floors, where the hum of conversation grew louder. Each booth buzzed with activity, but Bybit’s vibrant display was a particular magnet. There, animated discussions unfolded as our friendly Bybit team members walked curious visitors through Bybit’s journey. TOKEN2049 was a melting pot of ideas and aspirations, with every handshake and exchanged card hinting at potential new ventures.

The energy of TOKEN2049 was palpable, with the second day surpassing even the high spirits of the first. The conference halls swelled with attendees whose excitement was fueled by anticipation of the upcoming panel. Crowds meandered through the venue, discussing the day ahead and speculating on the insights that would soon be shared at one of the day's most awaited sessions: 

Exchanges at the Helm: Driving Crypto from Niche to Mainstream.

Exchanges at the Helm: Driving Crypto from Niche to Mainstream

This panel brought together a distinguished lineup of industry leaders, including Michael Casey, Chairman of Decentralized AI Society (DAIS); Ben Zhou, Bybit’s co-founder and CEO; Vivien Lin, CPO of BingX; Gracy Chen, CEO of Bitget; Sonia Shaw, President of CoinW; and Alicia Kao, Managing Director of KuCoin. The room was packed well before the session started, with every available seat filled and many attendees standing at the back, eager not to miss a moment of the discussion. The discourse centered on the transformative role of crypto exchanges in bringing digital currencies into the mainstream.

The panelists dived into critical topics such as regulatory compliance, which has become a cornerstone for the legitimacy and growth of crypto exchanges worldwide. They explored the different strategies required to navigate the regulatory landscapes of various geographic regions, highlighting the need for flexibility and innovation in approach. The integration of AI and blockchain technology was another key area of focus, with discussions on how these technologies can enhance the trading experience by providing greater personalized services and more robust security measures.

Ben focused on the growth trajectories in the crypto market, particularly highlighting the rapid adoption in regions with less mature financial systems, such as Africa, India and parts of Europe. He emphasized the importance of robust compliance measures, stating that while compliance is costly, the cost of noncompliance is significantly higher, necessitating proactive adaptations and enhancements in Bybit’s operations.

Other panelists brought diverse perspectives to the table. Vivien from BingX discussed the challenges and opportunities in developing countries, where unstable monetary systems drive the need for crypto solutions. Gracy from Bitget touched on the importance of product localization to meet the unique demands of different markets, mentioning how crucial it is for success to understand local preferences and regulatory nuances. 

Sonia from CoinW discussed the impacts of recent macroeconomic changes. She anticipates a bullish future driven by fresh institutional interest and improved liquidity in the markets. Alicia from KuCoin explored the way in which the evolving compliance landscape is shaping KuCoin’s strategic plans, emphasizing the need for exchanges to enhance their compliance teams and capabilities in anticipation of stricter regulations.

In discussing the adoption of AI tools in the crypto exchange industry, Ben shared insights into Bybit’s approach to automation and AI. He clarified that Bybit prefers not to label its technology strictly as AI, focusing instead on how AI enhances user experience. He explained that automation plays a critical role at Bybit, especially in delivering quick, essential information to users. For instance, when a new token is listed, users seek immediate details about its legitimacy, who else is investing and its general perception on social platforms like X. Bybit employs what might be termed AI-driven tools to streamline this information delivery, handling routine inquiries and data aggregation with automation that ensures that users receive a swift and accurate breakdown of each token, thereby improving efficiency and user satisfaction by focusing on eliminating mundane tasks through smart technology.

Collectively, the panel addressed the critical role of crypto exchanges in mainstreaming digital currencies, with each speaker emphasizing the need for agility, user-centric innovation and stringent compliance in order to efficiently navigate the complexities of the global financial landscape. The discussion highlighted the industry's commitment to adapting swiftly to technological advancements and regulatory demands, ensuring that digital currencies continue to gain traction in the mainstream financial ecosystem.

The Solana Breakpoint event, co-hosted by Bybit, showcased a thoughtful discussion on the evolving synergy between centralized and decentralized finance, emphasizing Bybit’s strategic role in the ecosystem. Ben Zhou, co-founder and CEO of Bybit, detailed the company’s journey since its inception in 2018, highlighting its shift from a derivatives exchange to a comprehensive crypto platform that supports a variety of products. Unlike other exchanges that may create proprietary ecosystems, Bybit focuses on facilitating access to various blockchain environments, with a significant commitment to supporting the Solana ecosystem.

Ben articulated the philosophy that CeFi and DeFi are complementary, with Bybit acting as a bridge to familiarize users with web3 technologies while still providing the traditional security and user experience of CeFi. He also discussed Bybit's initiative to integrate Solana-based liquid staking tokens (LSTs) such as bbSOL, which allows users both to earn yields and use these tokens as collateral. This strategy not only benefits Solana token holders, but also attracts new users interested in leveraging these benefits. 

Looking ahead, Ben emphasized Bybit’s focus on expanding its web3 wallet capabilities, enhancing security measures to protect users from scams and ensuring a seamless transition for users engaging with multiple blockchain ecosystems.

Bybit x 1Token x SignalPlus: The Crypto Gala Night

The Crypto Gala Night, an exclusive event co-hosted by Bybit Institutional, 1Token and SignalPlus, unfolded as a premier gathering for the upper echelons of the crypto world. Held in a setting renowned for its elegance, this invite-only affair brought together top institutions and founders for an evening dedicated to high-level networking and the exchange of industry insights. Attendees engaged in lively discussions over cocktails, and discussed the latest trends and strategies shaping the future of cryptocurrencies. The atmosphere was charged with a spirit of collaboration, as executives and pioneers shared thoughts and forged strategic partnerships that promise to drive the boundaries of the crypto landscape forward.

Bybit x Solana x Blockchain for Good Alliance: Student Mixer Night

Right before Solana Breakpoint 2024, Bybit collaborated with Solana University and Solana Superteam to host an exclusive mixer on Sep 19, 2024, for Solana University students from all over the world to connect, learn and engage with web3 industry leaders. Anh Tran from Superteam Vietnam delivered an inspiring message, urging students to embrace their creativity and passion: “You are not just following a path, you're blazing a trail. You’ll be building products that could change the world. You’re building the next era.” MK Chin, Bybit Web3 Brand and Marketing Lead, also shared Bybit's evolution from just a centralized exchange (CEX) to one that also offers decentralized exchange (DEX) services through Bybit Web3, inviting students to join the journey through exciting internship opportunities.

Bybit x Hashed x Delphi Digital x Pulsar: HORIZONS 2049

The HORIZONS 2049 event, hosted by Bybit alongside partners Hashed, Pulsar and Delphi Digital, was a resounding success, marked by a vibrant atmosphere of networking and insightful discussions. As attendees mingled with drinks in their hands, the venue buzzed with anticipation for the speeches from notable industry figures. Chris Aruliah, Head of Institutional at Bybit, expressed his gratitude to the attendees and encouraged everyone to make the most of the evening and the spectacular venue. Representatives from Hashed and Pulsar contributed to the congenial ambiance, with insights into their companies’ roles and achievements in the crypto market, emphasizing Pulsar's decade of market-making expertise. Delphi Digital representatives also expressed gratitude, sharing insights into their analytical and research-focused contributions to the crypto community. 

The HORIZONS 2049 event not only provided a platform for networking, but also showcased Bybit’s deep commitment to fostering community and innovation within the crypto space.

As TOKEN2049 2024 concluded, it was evident that these gatherings were not only about networking but also served as a testament to the innovative spirit of the crypto community. Panels and discussions also shed light on the convergence of artificial intelligence and blockchain technology. As the conference concluded, attendees left with a deeper understanding of how the industry could push the boundaries of technology and engagement, setting a new standard for future interactions in the crypto ecosystem.

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TOKEN2049 2024 Highlights: Showcasing Innovation Across the Spectrum

Explore all the upcoming events that are taking place during TOKEN2049 Singapore!

As September approaches, the pulse of the crypto world is beating with a crescendo toward TOKEN2049 Singapore, the apex of global crypto gatherings. This year, Bybit is once again not just participating — we’re catalyzing a week filled with groundbreaking discussions and elite networking events with VIPs, KOLs, affiliates, partners and the crypto community. These interactions will offer a unique opportunity to strengthen relationships, explore new collaborations and highlight Bybit’s commitment to the development of the web3 ecosystem.

Read on to learn more about the exciting events taking place during TOKEN2049 Singapore!

From Sep 18–19, 2024, Singapore will host TOKEN2049, the largest crypto event drawing the brightest minds from across the globe. This isn't just another conference — it's where the future of blockchain and crypto take shape. You can expect illuminating insights from founders and executives of leading web3 companies. 

This year, we’re thrilled to announce that Bybit’s CEO, Ben Zhou, will have a panel discussion entitled 

From Racetrack to Cryptosphere: The DNA of Champions 

on the main stage, with none other than Oracle Red Bull Racing's star drivers, Max Verstappen and Sergio Pérez!

If you’re heading to TOKEN2049 Singapore, be sure to drop by the Bybit booth located at M50 and chat with our extraordinary Bybit team!

In celebration of TOKEN2049, Bybit is holding a 

 event where you can win exciting prizes, including TOKEN2049 tickets, 10 USDT in airdrops, a share of the $80,000 and 204,900 DOGS prize pools! There are a total of three side events under TOKEN2049 Treasure Express:

The TOKEN2049 Lucky Draw enables you to stand a chance in winning TOKEN2049 tickets, a share of $50,000 in hot tokens and a share of 30,000 USDT in Spot Coupons. 

Complete tasks listed on the event page to earn lucky draw tickets.

By referring your friends to Bybit and getting them to sign up for the TOKEN2049 Treasure Express event, you can earn 10 USDT in airdrops!

Share your referral link or code with your friends.

Ensure your referee(s) register for the event successfully.

Ensure your referee(s) deposit at least $100 and trade a minimum of $100 within seven days after registering for the event.

Social Media Giveaway: 204,900 DOGS Up for Grabs

Spread the word about TOKEN2049 Treasure Express and you can win a share of the 204,900 DOGS prize pool!

Tag @Bybit_Official with the hashtag #Token2049 in your post during the event period.

Submit the required information using the form 

Sep 5, 2024, 10AM UTC – Sep 26, 2024, 10AM UTC

Join Bybit CEO Ben Zhou at Solana Breakpoint, where he’ll be diving into the future trajectories of blockchain technology and web3. Organized by the Solana Foundation, Solana Breakpoint is a premier event for developers, industry leaders and the global community to explore the latest in the Solana ecosystem. Attendees will gain exclusive updates, engage in workshops and network with key players. This year’s event is poised to be the most dynamic yet, with Ben Zhou’s participation underscoring its significance in the crypto space.

Step into an evening of exclusive networking and insightful conversations at the Crypto Gala Night, co-hosted by Bybit Institutional, 1Token and SignalPlus. This invite-only event is designed for top institutions and founders, offering a unique opportunity to connect with the industry's brightest minds. Engage with fellow executives over cocktails, share industry insights and forge meaningful connections that can shape the future of crypto.

Altcoins

Blockchain

Crypto

DeFi

GameFi

Indicators

Investing

Artificial Intelligence

Metaverse

Memes

Options

Stablecoin

Staking

Strategies

Trading

Web 3.0

Web3 Experts

Live ICYMI

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Learn Wrapped: Celebrating Unprecedented Growth and Milestones in H1 2024

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This Week in Bybit: 19 Feb - 25 Feb

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