Key Takeaways:
- Bybit has regained over 7% market share after a $1.4B security breach in February.
- The February 21 hack involved major asset losses, including stETH and mETH.
- Recovery was supported by enhanced security, improved liquidity, and broader market trends.
Bybit has regained over 7% of the crypto exchange market share following a massive $1.4 billion hack in February 2025.
The breach, which occurred on February 21, was one of the largest in crypto history, resulting in the theft of digital assets including liquid-staked Ether (stETH) and Mantle Staked ETH (mETH).
🚀 Bybit Incident Postmortem Report: @Bybit_Learn x Block Scholes
— Block Scholes (@BlockScholes) April 9, 2025
🔐The Feb 21, 2025 Bybit hack occurred amid broader macro uncertainty. While BTC & ETH markets saw brief disruptions in spot volume and order book depth, bid-ask spreads remained largely intact, showing market… pic.twitter.com/h4FRXuTVvx
After the incident, Bybit’s market share plunged to around 4%. However, a recent analysis by research firm Block Scholes shows a steady rebound in the weeks since.
The exchange’s recovery is attributed to swift action, including tightened security protocols and enhanced liquidity offerings aimed at retail users.
The firm’s April 9 report highlights that Bybit’s progress reflects not only internal efforts to rebuild trust but also a broader market trend of macro-level de-risking that had already begun prior to the breach.
This suggests the trading volume decline was not solely due to the hack.
Bybit’s resurgence signals renewed trader confidence and a notable recovery in spot market activity, positioning the platform for continued growth in a competitive crypto landscape.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
His articles offer a deep dive into the latest trends, projects, and technological advancements shaping the future of digital finance.
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