More about the Bybit hack issue.

[BitBakerr1]

Cryptocurrency exchange Bybit says it has replenished its reserve following a record-breaking $1.5 billion hack.

The company announced Monday (Feb. 24) that it had conducted a fresh audit and restored its reserve to a 1:1 ratio within 72 hours of last week’s incident.

“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” Ben Zhou, Bybit’s co-founder and CEO, said in a news release.
Source: https://www.pymnts.com/cryptocurrency/2025/bybit-back-to-100percent-after-historic-1-5-billion-hack/

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

[CryptoHeadlineNews]

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

Not only on Bybit, but on all crypto exchange entirely. Because it's strictly not advisable for anybody to save funds on exchange, as exchanges are meant to be where you trade or swap your coins into fiat currency through the use of p2p, and not where you invest your Bitcoin for long term, when we have non custodial wallets such as Electrum, BlueWallet and Exodus. As anything apart from trading should be totally disregarded. Because this is not the first time we are hearing of an exchange been hacked, and this will literally not be the last of such casem hence, it's advisable we take precaution by investing in the right wallets that is very secured, easy to use and transparent.

[Doan9269]

Cryptocurrency exchange Bybit says it has replenished its reserve following a record-breaking $1.5 billion hack.

The company announced Monday (Feb. 24) that it had conducted a fresh audit and restored its reserve to a 1:1 ratio within 72 hours of last week’s incident.

“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” Ben Zhou, Bybit’s co-founder and CEO, said in a news release.
Source: https://www.pymnts.com/cryptocurrency/2025/bybit-back-to-100percent-after-historic-1-5-billion-hack/

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

There's no amount of talk they can render that changes on how they are not reliable and should not be trusted for holding our entire life savings, some have learnt their lessons already in the past while with this experience, some are still under their own learning process on what a centralized exchange could cause or implicate, it has been on several occasions said that we should not put all eggs in one basket, not even when we are using a custodial wallet, we don't know how this will have impact on the users affected and their fate along side, but let keep watching to see where it will land.

[Wiwo]

This is expected of them as a regulatory compliance entity customers' funds and reserves must be adequate to keep the operations of the company running when I first saw the news of the Bybit hack the first thing I did was to check to see on c if there is any report of withdrawal delays but there was nothing as such so that gave me more confidence that the safe wallet has been fully activated, so yeah this is good news to hear that the exchange finally made an official announcement about that.

Most times casinos and exchanges are financially sufficient enough to cover up for any hack incidents, but even at that, we should be in total control of our coins, so even if exhausted having such guarantees don't still leave your funds on them make sure you transfer all large amounts of assets into your wallet that you have the private keys.

[Spaceman1000$]

Cryptocurrency exchange Bybit says it has replenished its reserve following a record-breaking $1.5 billion hack.

The company announced Monday (Feb. 24) that it had conducted a fresh audit and restored its reserve to a 1:1 ratio within 72 hours of last week’s incident.

“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” Ben Zhou, Bybit’s co-founder and CEO, said in a news release.
Source: https://www.pymnts.com/cryptocurrency/2025/bybit-back-to-100percent-after-historic-1-5-billion-hack/

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

Omo Bybit try to replenish their reserve to $1.5 billion oh after that hack in few hours, but make them no rush come out dey tell us about their replenishment in few hours, although I know say na to restore public trust on their platform, but make them also channel these energy on the security of people them asset wey dey under their platform, make person no wake up one morning see say them don wipe out him entire savings way dey Bybit. However we don encourage people to use all this CX for P2P transactions,  no be where you keep your coins for too long, make had I know no come be your surname.

[BIT-BENDER]

Any one way this forum and was keeping their funds on an exchange even before the back should really go for more understanding. Before now them don dey ring am as bell say make no body leave their funds for exchange, the thing no make sense.
One thing I believe is that no matter how an exchange trues to secure themselves once in a while there may be some lapses and this hackers will always take advantage, also their can always be a Judas in their team that leaves them vulnerable.

[Orpichukwu]

This is expected of them as a regulatory compliance entity customers' funds and reserves must be adequate to keep the operations of the company running when I first saw the news of the Bybit hack the first thing I did was to check to see on c if there is any report of withdrawal delays but there was nothing as such so that gave me more confidence that the safe wallet has been fully activated, so yeah this is good news to hear that the exchange finally made an official announcement about that.

Bybit was very professional in how they handled that incident. They handled all withdrawals, but there was a delay in some as they experienced massive withdrawals requested more than they had ever experienced, which the CEO also confirmed in a post on X. With the way the news was going, only a few people had hope in them, and some were even linking this with what happened with FTX, predicting it to be the end of Bybit, which all those have been silenced.

[nelson4lov]

Bybit learnt a $1.5B lesson and I doubt say them go let themselves get hacked again because that one go be the final nail in the coffin and them still owe parts of the loans wey them use replenish their balance sheet back to 1:1.

My opinion be say Bybit go even grow bigger than this because of how them handle all of their issues wey come from this hack. See how them allow withdrawals during hours wey the hack story been dey heat up and them still operate "as usual" even as them dey face the biggest hack in crypto.

[Nangiconference]

Well, if they have been able to make this restoration then I think there is no cause for alarm since their customer didn't not witness failure on demand deposit. This is to tell us that they are prepared, ready and trusted for business as they were able to recoup their lost.
My advise is that people should patronise them more now inorder to offset the lost in the near future since constant transaction will generate more revenue for them. Than to leave them in fear since it can result to their liquidation.

[Proty]

Cryptocurrency exchange Bybit says it has replenished its reserve following a record-breaking $1.5 billion hack.

The company announced Monday (Feb. 24) that it had conducted a fresh audit and restored its reserve to a 1:1 ratio within 72 hours of last week’s incident.

“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” Ben Zhou, Bybit’s co-founder and CEO, said in a news release.
Source: https://www.pymnts.com/cryptocurrency/2025/bybit-back-to-100percent-after-historic-1-5-billion-hack/

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

I dey surprised when I heard the news about the hacking of bybit and I come dey wonder how such thing come take dey possible all the same the trust wey I been get for the exchange dey for %1 now and I don't know wey other people still trust the exchange. For me I think it be wise to they watch the exchange for sometimes before we go start to dey transfer coin there via p2p to avoid story that touch, weda we want dey hold coin Dere or p2p for no the risk dey very high because the exchange appears to be more vulnerable to hackers so na bitget I dey recommend make we dey use do p2p to avoid story that touch.

[Sticky Bomb]

Not only on Bybit, but on all crypto exchange entirely. Because it's strictly not advisable for anybody to save funds on exchange, as exchanges are meant to be where you trade or swap your coins into fiat currency through the use of p2p, and not where you invest your Bitcoin for long term, when we have non custodial wallets such as Electrum, BlueWallet and Exodus. As anything apart from trading should be totally disregarded. Because this is not the first time we are hearing of an exchange been hacked, and this will literally not be the last of such casem hence, it's advisable we take precaution by investing in the right wallets that is very secured, easy to use and transparent.

Exactly, every exchange should be treated the same, exchanges are for trading and never for holding coins. Large volume of coins are very bad held on exchanges.

Every exchange hack is a reminder to investors how unsafe exchanges are, Bybit is the latest of them all, the CEO said what he should to prevent panic, but we don't know if it was actually fully implemented. All the same, the bottom line is that exchanges are porus and risky. Store your coins in open source decentralized wallets and hold your peace.

[Antotena]

Exactly, every exchange should be treated the same, exchanges are for trading and never for holding coins. Large volume of coins are very bad held on exchanges.

Every exchange hack is a reminder to investors how unsafe exchanges are, Bybit is the latest of them all, the CEO said what he should to prevent panic, but we don't know if it was actually fully implemented. All the same, the bottom line is that exchanges are porus and risky. Store your coins in open source decentralized wallets and hold your peace.

A reminder where people don't take actions. If you check the reserves of many exchanges the day that Bybit incident happen and today, you will be surprised that the reserve has increased more than where it was and that's because the exchange will want to prove to the community that they are very strong but they forgot that Bybit says the same thing to them but were later hack of 500k ethereum and the market looks like it never even happen.

The good side of this is that during the bull run, everything can be managed, the exchange makes money from trading fees, momey from listing new coins and even investing in new coins to make profits. If they make all back before bear market, they will be able to continue but if we enter bear market, it will be a problem, they will be having difficulty in paying back the loans they have use to replace the hack money, they can increase the duration of the loan as well but that means more interest rate.

[Dailyscript]

This is expected of them as a regulatory compliance entity customers' funds and reserves must be adequate to keep the operations of the company running when I first saw the news of the Bybit hack the first thing I did was to check to see on c if there is any report of withdrawal delays but there was nothing as such so that gave me more confidence that the safe wallet has been fully activated, so yeah this is good news to hear that the exchange finally made an official announcement about that.

Bybit was very professional in how they handled that incident. They handled all withdrawals, but there was a delay in some as they experienced massive withdrawals requested more than they had ever experienced, which the CEO also confirmed in a post on X. With the way the news was going, only a few people had hope in them, and some were even linking this with what happened with FTX, predicting it to be the end of Bybit, which all those have been silenced.

Maybe before now Bybit have been preparing for worst days like this. Which is the reason why they were able to handle the matter amicably with the victims. However, other exchanges should be prepared to face any cyber theft because they dont know who will be next. What i notice about these hackers is that no matter the level of security these exchanges have they can stop the groups that are behind this crimes. Tier 1 hackers are responsible for the hacking.

[DaNNy001]

This is expected of them as a regulatory compliance entity customers' funds and reserves must be adequate to keep the operations of the company running when I first saw the news of the Bybit hack the first thing I did was to check to see on c if there is any report of withdrawal delays but there was nothing as such so that gave me more confidence that the safe wallet has been fully activated, so yeah this is good news to hear that the exchange finally made an official announcement about that.

Bybit was very professional in how they handled that incident. They handled all withdrawals, but there was a delay in some as they experienced massive withdrawals requested more than they had ever experienced, which the CEO also confirmed in a post on X. With the way the news was going, only a few people had hope in them, and some were even linking this with what happened with FTX, predicting it to be the end of Bybit, which all those have been silenced.

Well what do you expect people to think? I mean for an exchange like them to be hacked, it's must have really put people on the edge and you know what they say about the security risks in keeping your coins at CEX but as humans so many people were still affected and scared because for some reasons lots of persons had their asset on the exchange although some of these persons might be daily P2P traders.

[EL MOHA]

Maybe before now Bybit have been preparing for worst days like this. Which is the reason why they were able to handle the matter amicably with the victims. However, other exchanges should be prepared to face any cyber theft because they dont know who will be next. What i notice about these hackers is that no matter the level of security these exchanges have they can stop the groups that are behind this crimes. Tier 1 hackers are responsible for the hacking.

Every exchange do have backup plans to counter any hack according to how they say, the most notable one is the one binance called SAFU and they assured everyone that even if an hack occurs the customers funds are safe but this will be dumbest thing to ever do that is trusting them with your funds. When the bybit hack happened bybit definitely didn’t have the funds at hands to carry out all transfer but had to borrow from fellow top exchanges like Bitget and binance, this was what actually calmed the situation down, so it was a good call.

Although bybit handled this situation so well that doesn’t mean other exchanges including bybit too can survive any more hack, FTX said they had everything under control until it broke out they were lying. One key thing I understand from this bybit hack was the fact that it was actually their cold wallet that was hacked which is definitely so alarming, that was supposed to be their SAFU wallet, so instead of entrusting such people learn to be your own bank

[Lida93]

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

Wetin Bybit do nah to reassure customers trust on their platform and that's how every active business should be managed because we already know say no centralized platform wey dey immune to hack. If them no fit hack you today it fit happen tomorrow.

And to correct wetin op talk, this hack no be just about bybit but nah about all other exchangers, no one way dey 100% sure for us to leave our coins inside their platform onto savings. Try get wallet be it hot or cold wallet and package your coins there under your control.

[nelson4lov]

Wetin Bybit do nah to reassure customers trust on their platform and that's how every active business should be managed because we already know say no centralized platform wey dey immune to hack. If them no fit hack you today it fit happen tomorrow.

And to correct wetin op talk, this hack no be just about bybit but nah about all other exchangers, no one way dey 100% sure for us to leave our coins inside their platform onto savings. Try get wallet be it hot or cold wallet and package your coins there under your control.

Yes. No system is 100% hack proof. The only thing they can do (bybit and other exchanges), is to increase their layer of security and make it much more difficult to hack.

Self custody is cool and all but then, the assets stored is as secure as the security the owner puts in place. It's much more bare metal approach and needs more security hands-on compared to exchanges where they have the sole responsibility for security—in addition to any other security measures a user puts in place like 2FA.

[Mr Reporter]

Not only on Bybit, but on all crypto exchange entirely. Because it's strictly not advisable for anybody to save funds on exchange, as exchanges are meant to be where you trade or swap your coins into fiat currency through the use of p2p, and not where you invest your Bitcoin for long term, when we have non custodial wallets such as Electrum, BlueWallet and Exodus. As anything apart from trading should be totally disregarded. Because this is not the first time we are hearing of an exchange been hacked, and this will literally not be the last of such casem hence, it's advisable we take precaution by investing in the right wallets that is very secured, easy to use and transparent.

Exactly, every exchange should be treated the same, exchanges are for trading and never for holding coins. Large volume of coins are very bad held on exchanges.

Every exchange hack is a reminder to investors how unsafe exchanges are, Bybit is the latest of them all, the CEO said what he should to prevent panic, but we don't know if it was actually fully implemented. All the same, the bottom line is that exchanges are porus and risky. Store your coins in open source decentralized wallets and hold your peace.

It is not advisable for anyone to save their coins on exchanges, the exchange might just go bankrupt or becomes insolvent which will result to your funds if you are careful, by why its always an better option to storing your coins in an hardware wallet now adays I don't trust any exchange because I have heard a storyline where an exchange employee had access to your account and given it to some attackers for hack so in others words exchange can't be convenient to store up your coins have a rethink over it...

[Lida93]

Wetin Bybit do nah to reassure customers trust on their platform and that's how every active business should be managed because we already know say no centralized platform wey dey immune to hack. If them no fit hack you today it fit happen tomorrow.

And to correct wetin op talk, this hack no be just about bybit but nah about all other exchangers, no one way dey 100% sure for us to leave our coins inside their platform onto savings. Try get wallet be it hot or cold wallet and package your coins there under your control.

Yes. No system is 100% hack proof. The only thing they can do (bybit and other exchanges), is to increase their layer of security and make it much more difficult to hack.

Self custody is cool and all but then, the assets stored is as secure as the security the owner puts in place. It's much more bare metal approach and needs more security hands-on compared to exchanges where they have the sole responsibility for security

Having the responsibility of the security of our stored assets is part of the financial freedom people have to embrace. On the bare metal approach to the security of one's asset it's one of many commendable security practices to protection of our crypto asset especially as it's void of cloud services.

—in addition to any other security measures a user puts in place like 2FA.

Yeah, including 2FA is another way of adding an extra layer of security to our wallet but it doesn't come without it's own downsides which a user has to be careful about how complex their 2FA could be, not to be locked out on account of forgetting your password due to it complexity.

[Jerrycrypto2024]

Well, if they have been able to make this restoration then I think there is no cause for alarm since their customer didn't not witness failure on demand deposit. This is to tell us that they are prepared, ready and trusted for business as they were able to recoup their lost.
My advise is that people should patronise them more now inorder to offset the lost in the near future since constant transaction will generate more revenue for them. Than to leave them in fear since it can result to their liquidation.

Yes I think you know people who are ready to give satisfaction through their quality assurance and all hand been on deck to cortail any arising challenge before them though I haven't engaged much with bybite but since the news came up I haven't hard any complain by their customers of lacking or setback in their transaction as a result course by this very incident. Their self coordination and moderation even at a peak of challenges show how mature and industrious they are willing and ready to account to public mostly their customers confidence and trust on them, I see one thing that if not on this challenge happening within the public domain they would have handled it without the knowledge of their customers.