Did Bybit hacking saga affect their number of app downloads in Feb??

[Miles2006]

The statistics is a temporary one if only other exchange will thrive hard to keep the competition tough, viewing Bybit still in that position is a come back. In the crypto field that’s what happens when you prioritize your coins, everyone is afraid meanwhile it takes a lot to build back a good name surprising this scammers knows every little step on how to succeed. I’m not familiar with top exchange ranking so i guess the statistics has always been like this surrounded with same exchange no doubt but the arrangement sometimes might be different probably that’s why op created the thread.

[CroverNo01]

I do not think the hack affected Any way. But I know people. How Bybit acted (by not closing the exchange and not disable withdrawal even after there was a massive withdraw) will let people trust the exchange more. Instead to move their funds from exchanges to a noncustodial wallet. So I do not think the number of new customers and downloads are affected. If affected, it will be little to what not need to talk about.

Bybit lost huge numbers of clients but they're not to worry about the whole ugly incident instead they should be disturbed about circling measurable meets for the new ones. Bybit is main target for exchanges, we know the up running activities in the space, more reason we try our possible best to stay on a good lane. There's something we should know about crypto. Scam can never been permanently mute but it can be controlled. Unfortunate for us, there's only few numbers that actually understand the system. These numbers are scarce and they know completely how to handle the market under pressure.

[Issa56]

I just saw this https://x.com/Crypto_Dep/status/1901948311055065296?t=n0AF3XlCd2W7czKC9eJ3hw&s=19 the ranking of the most downloaded exchange apps in February, and I wasn't shocked by the top 5. In my opinion, most of them are unique in what they do. Take Binance, for example, which ranked number one. It has built its reputation to the extent that no matter what they do, people will still use them. OKX came in second on the list, dethroning Bybit, while Bitget came in third. https://i.ibb.co/x8s08r48/IMG-20250319-WA0036.JPG Considering how far they've come with their listing of solid projects, I think they deserve it. I made two profitable trades with $BMT and $PI thanks to their early listings. If they continue like this, I won't be surprised to see them in the number two spot by the end of the year. Bybit is actually ranked number four, probably due to the hacking issue that happened. Do you think my analysis of this ranking is correct?

The hack is definitely going to affect them, some of their customers will stop making use of the exchange, they will choose another exchange over bybit, because they will no longer feel safe with the exchange. Bybit hack news was all over the space, so most of the newbies will prefer to make use of other reputable exchanges, which is really going to affect the amount of new customers which they are getting. Most people will be expecting the exchange to be hack again later in the future, but we should know that any exchange can be hacked, no exchange is too big to be hacked, so it’s just better we don’t leave our coin on exchanges.

[robelneo]

Any exchange that gets hacked will affect their user base and their reputation because the users think that the platform is not secured and there is a possibility of getting hacked again. Even if they guarantee the users funds are safe, there will always be doubts on the security operation of the exchange.
It takes a lot of time to build your reputation and standing in the exchange industry, and it only takes one hacking incident to ruin it, so security should always be the main concern of any exchange.