Bybit Denies $1.4M Listing Fee Allegations, Calls for Evidence

Crypto exchange Bybit has publicly denied allegations that it charges $1.4 million to list tokens on its platform. The controversy began on April 14, 2025, when a social media user with over 100,000 followers accused the exchange of demanding exorbitant listing fees from token projects. The user also claimed that Bybit used key opinion leaders (KOLs) to silence students involved in its Campus Ambassador program.

Bybit CEO Ben Zhou responded directly to the accusations, calling for evidence and dismissing the claims as unsubstantiated. Zhou stated that the crypto space has become chaotic due to rumors spread without proof. He emphasized the need for evidence to support any allegations, highlighting the importance of factual accuracy in the industry.

A Bybit representative outlined the exchange’s actual listing requirements in a statement. According to the company, token projects are expected to provide a promotion budget and a security deposit and undergo a comprehensive evaluation process. The spokesperson clarified that projects are expected to allocate promotional funds for user engagement activities, though legal constraints prevent exchanges from holding tokens directly. The exchange typically asks for a security deposit ranging from $200,000 to $300,000 in stablecoins, which is intended to ensure that promotional goals are met. Penalties may apply if these targets are not achieved. The listing process also involves form submissions, internal votes, due diligence, and a listing review meeting. Evaluations focus on fundamentals and risk controls, including on-chain data, address authenticity, use cases, user distribution, project value, token valuation, value capture mechanisms, and team credentials.

The social media user further alleged that Bybit’s 2024 Campus Ambassador program involved issuing student trial contracts and that KOLs were later used to suppress complaints. Bybit has not responded directly to the ambassador-related allegations, but Zhou reiterated his call for evidence, stating that claims without proof only add to confusion in the market. At the time of publication, the exchange had not released any further statement regarding the ambassador program accusations.

Bybit’s swift, evidence-based response to the allegations highlights a broader industry trend toward rebuilding trust and operational clarity after recent security incidents and market scrutiny. The exchange has been working to restore market share and tighten its focus following a record-setting $1.4 billion exploit in February 2025. The February 21 exploit targeted liquid-staked Ether (stETH), Mantle Staked ETH (mETH), and other assets. While the attackers laundered the funds through THORChain over 10 days, blockchain experts managed to trace nearly 89% of the stolen assets. The recovery comes as Bybit adjusts its platform strategy, including the shutdown of its NFT and Initial DEX Offering (IDO) services on April 8, 2025. This move reflects internal efforts to reduce risk and a broader market shift away from NFTs amid declining volumes. Other platforms have also exited the NFT space as market activity continues to cool from its peak in August 2021. Bybit’s latest decisions appear to strengthen trust and streamline operations in the wake of heightened regulatory pressure and user demand for greater security.

Bybit’s detailed disclosure of its listing process and security deposits shows a shift toward clearer, more accountable practices in exchange operations. The need to rebuild trust post-hack likely makes Bybit more sensitive to reputational risks, prompting swift denials and calls for evidence to maintain credibility. Even when unproven, social media rumors can quickly weaken user confidence and force the company to prioritize transparency and proactive communication. Bybit’s response reveals a commitment to rebuilding trust and operational clarity in the crypto industry, setting a precedent for other exchanges to follow.