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After undergoing the greatest hackering in Krypto in February 2025, the exchange of its initial share in the market was 7 %. A remarkable act, especially in a difficult economic context.
Phoenix bybit is reborn after a historical flight of $ 1.4 billion
21st February 2025 was a victim of a devastating computer attack and lost more than $ 1.4 billion in a crypto, especially in Liquid Ether (Steth) and ETH Mantle. This colossal amount was approximately 70 % of ETH reserves platform, as stated by a sophisticated hacking that caused $ 560 million to disappear.
According to a recent report by Block Scholes, an analytical company specializing in crypto, Bybith has gradually reconstructed user confidence. Its market share, which dropped to at least 4 %after the incident, increased to approximately 7 %, finding its level before the crisis.
This increase is explained in particular by reinforced safety measures carried out and improving liquidity options for specific traders. The volumes of cash transactions also restored their usual rhythm on the platform.
A wider context of caution on the market of markets
The performance of the bybit is all the more impressive because crypto investors have been generally more cautious in recent months.
According to Block Scholes, this distrust has already existed before hacking. This explains why the decrease in the volume of transactions was not only due to the attack.
Cyber security experts were able to trace 89 % of the stolen $ 1.4 billion thanks to the block chain analysis. The Pirates lasted 10 days to blend all means through a decentralized Inter-Chaînes Thorchain protocol.
This attack is part of a number of operations performed by the Lazarus group, which has already been responsible for other main hacks such as Ronin’s storage ($ 600 million) and Wazirx ($ 230 million).
According to several analysts, including Arkham Intelligence, the same portfolios are connected to Hack Bybity and Phemex in January.
In short, despite these disturbing revelations, Bybit was able to implement reinforced security measures and improve liquidity options, allowing the platform to quickly regain the trust of its users on the market, but marked by increased vigilance.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.