Bybit Bounces Back: 77% AUM Recovery, Enhanced Security, and Unwavering User Confidence

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has made significant progress in restoring assets and rebuilding trust following a recent security incident. The exchange has swiftly implemented recovery plans and enhanced security measures to protect its global user base, demonstrating its commitment to transparency and resilience.

Bybit has successfully recovered 77% of its Assets Under Management (AUM) to pre-incident levels, showcasing its strong recovery strategy and ongoing client confidence. The platform now offers exceptional spot liquidity for the top 180 trading pairs, outperforming industry benchmarks. The top two indices have recovered more than anticipated, surpassing competitors by over 87% and over 86% of their typical levels, respectively. Bybit's trading volume has remained stable, with over $40 billion in volumes over the last two days, indicating the tenacity and confidence of its user base worldwide.

In addition to its monthly verifications, Bybit has conducted an extra proof of reserves audit to further demonstrate its commitment to transparency. The findings confirm that all customer assets have been fully collateralized, with 102% BTC and 102% ETH, 103% SOL, 116% USDE, 104% USDT, and 229% USDC. These numbers highlight Bybit's sound financial standing and dedication to ensuring that customer assets are always completely backed.

Ben Zhou, Co-founder and CEO of Bybit, stated, "We have taken swift and decisive actions to reinforce our security measures and protect our users. Our top priority is to maintain the highest standards of transparency, resilience, and trust. We deeply appreciate the unwavering support from our clients and partners, which has been instrumental in our rapid recovery."