The Bybit alternate has recovered its liquidity to pre-hack ranges simply 30 days following the February 2025 assault that drained almost $1.5 billion in funds.
In keeping with a report from crypto analysis and analytics agency Kaiko, Bitcoin’s (BTC) 1% market depth, a measure of liquidity, returned to pre-hack ranges of round $13 million per day in March 2025.
Altcoin liquidity ranges on the alternate have been slower to get well than Bitcoin however have rebounded to round 80% of the pre-hack ranges. The authors of the Kaiko report added:
“This lag is basically because of the risk-off market surroundings, which has impacted altcoins extra severely. Whereas Bitcoin remains to be seen as a dangerous asset, it stays the crypto market’s secure haven.”
General, the alternate’s buying and selling volumes stay in restoration; nonetheless, the report notes that this drop displays the broader market pattern in response to the ongoing macroeconomic uncertainty that has rattled threat asset markets and isn’t an impact of the greatest hack in crypto historical past.
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Bybit’s incident response
The Bybit alternate was hacked by cybercriminals on February 21, 2025, leading to $1.5 billion in stolen funds. A autopsy replace revealed a compromised system from a SafeWallet developer, the agency accountable for the multi-signature pockets custody resolution utilized by the alternate, as the reason for the hack.
Bybit stored withdrawals open through the incident, permitting customers to entry and pull their funds with little delay through the disaster.
Ben Zhou, the CEO of Bybit, reassured traders that the alternate was solvent and stated that the corporate’s reserves might cowl the shortfall whether or not or not the stolen funds had been ever recovered.
Zhou’s response united the crypto trade behind Bybit, with many rivals offering bridge loans to the alternate, technical help, and freezing the stolen funds on their protocols.
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