Bybit recovers market share to 7% after $1.4B hack

Quick Summary:

Despite the scale of the exploit, Bybit has steadily regained market share, according to an April 9 report by crypto analytics firm Block Scholes.“Since this initial decline, Bybit has steadily regained market share as it works to repair sentiment and as volumes return to the exchange,” the report stated.

Related: THORChain generates $5M in fees, $5.4B in volume since Bybit hackLazarus Group’s 2024 pause was repositioning for Bybit hackBlockchain security firms, including Arkham Intelligence, have identified North Korea’s Lazarus Group as the likely culprit behind the Bybit exploit, as the attackers have continued swapping the funds in an effort to render them untraceable.

Source: Block ScholesThe hack occurred amid a “broader trend of macro de-risking that began prior to the event,” which signals that Bybit’s initial decline in trading volume was not solely due to the exploit.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United StatesNorth KoreaUkraine

Topics: Bybit’s North Share Hack Crypto Market Billion Bybit According Exploit Blockchain

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-10 @ 10:03:18 (6 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 482 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27771022

View Article Analysis

About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 24 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

Frequently Asked Questions