Following yesterday's security incident involving unauthorized activities in our ETH cold wallet, Bybit is pleased to announce the full restoration of services and significant progress in our recovery efforts. Our platform has demonstrated remarkable resilience, processing record-breaking withdrawal volumes while maintaining full operational capacity.
What You Need to Know
Withdrawals Fully Restored
Bybit has successfully processed the highest number of withdrawal requests in our history. Within the first 10 hours of the incident, we processed over 350,000 withdrawal requests, completing 99.9% of them by 1:45 AM UTC. As of now, all withdrawals across all tokens are fully operational, with our systems running smoothly and processing without delays. In total, over 580,000 withdrawal requests have been successfully completed.
All Bybit Services Fully Operational
Despite facing one of the most significant security incidents in financial history, all Bybit functions and products remain fully operational. Trading, deposits, and other platform services continue to work as usual.
Deposit and Withdrawal Data Back to Normal
Deposit and Withdrawal Activity has returned to pre-incident levels. As of February 22, 13:00 UTC, total deposits slightly exceeded total withdrawals, signaling strong market confidence.
- Custodial funds have fully stabilized: Over the past 12 hours, withdrawal requests have been minimal, reflecting trust in Bybit's custody and exchange operations.
- Client confidence remains strong: An aggregated deposit of crypto assets valued at approximately $1.5 billion has been observed, further reinforcing our platform's reliability.
Trading Activities Resumed Normalcy
Following the incident at 15:00 UTC+8 on February 21, trading volumes initially spiked as users closed positions and reallocated assets. However, trading volumes have since stabilized, and there is no longer any abnormal liquidation or asset sell-off activity. Bybit’s trading environment has returned to pre-incident levels.
Recovery Progress
Bybit has been working closely with the mETH Protocol to recover assets. Through administrative collaboration, the Mantle-powered mETH Protocol successfully retrieved 15,000 cmETH, valued at approximately $42.76 million. Earlier today, mETH Protocol confirmed that cmETH withdrawals have been fully restored.
Our Commitment to Users
Our team has worked tirelessly, ensuring withdrawals are processed efficiently, reinforcing security measures, and providing immediate support to our users. Bybit remains fully committed to transparency, security, and operational excellence. Your trust is our top priority, and we will continue to enhance our security infrastructure to prevent future incidents.If you have any concerns or need assistance, please reach out to our Customer Support team via official channels.
A Heartfelt Thank You to Our Community
Bybit is deeply grateful for the overwhelming support from our partners, industry friends, and users during this critical time.To everyone who offered help—thank you. Your solidarity has demonstrated the strength of the crypto industry in times of adversity. Together, we will emerge stronger.
Thank you for standing with us.
