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Project Overview
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform for crypto traders. It has an ultra-fast matching engine, excellent customer service, and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace, and API support to retail and institutional clients around the world. It strives to be the most reliable exchange for the emerging digital asset class.
Bybit Pay integrates with Mesh crypto payment network, enabling direct payments using exchange balances
Odaily Odaily News: Bybit Pay, the payment arm of cryptocurrency exchange Bybit, has integrated with crypto payment infrastructure provider Mesh, allowing users to directly use their Bybit account balances to make payments or top up accounts on Mesh-supported platforms without the need to withdraw or transfer assets first. Merchants can add Bybit Pay as a payment option through existing Mesh integrations and use programmable settlement features to control settlement timing and methods across different markets.Mesh stated that its network is already connected to over 300 wallets, exchanges, and financial service platforms. In January this year, the company completed a $75 million Series C funding round led by Dragonfly, reaching a valuation of $1 billion, with cumulative funding exceeding $200 million. It also plans to expand into markets in Latin America, Asia, and Europe. (Cointelegraph)
Bybit launches SHEIN pre-market perpetual contract today
Bybit today added a Pre-IPO pre-market perpetual contract for Shein (SHEINUSDT), supporting up to 10x leverage. Users can trade its valuation ahead of Shein's official listing.
WonderFi Founder Criticizes Canada's Innovation Environment: Struggling to Grow, Forced into Sale to Robinhood
Odaily News - Karia Samaroo, founder and former CEO of Canadian crypto company WonderFi, recently stated that the company's acquisition by US trading platform Robinhood Markets for CAD 250 million was not due to a lack of growth potential, but rather because Canada's market environment has restricted local tech companies from continuing to scale.Samaroo said that WonderFi was founded in 2021. After several years of development, the company consolidated Canada's fragmented crypto market, built a nationwide brand, and survived the QuadrigaCX collapse, the FTX crash, and Canada's strict crypto regulatory environment. By 2023, WonderFi had become a leading crypto platform in the Canadian market.However, he believes that succeeding in Canada was not the company's ultimate goal. WonderFi had originally hoped to grow into a global enterprise, and Robinhood saw WonderFi as a strategic gateway into the Canadian market, which led to the CAD 250 million acquisition. Samaroo pointed out that Canada has long faced structural issues that limit companies' ability to scale, including insufficient venture capital, weak public markets, regulatory fragmentation, and declining attractiveness of entrepreneurial returns.For the crypto industry, the challenges are even more pronounced. Samaroo noted that after the QuadrigaCX incident, Canadian regulators established one of the world's strictest crypto regulatory frameworks. While the original intent was to protect investors, it also increased operational costs for businesses. International trading platforms including Binance, OKX, Bybit, and Gemini all entered the Canadian market previously and then exited. He believes that Canada's crypto regulations are not only strict but also compounded by fragmented securities regulatory systems, leading to higher financing costs, increased operational complexity, and diminished interest from overseas investors.Samaroo said that WonderFi is not an isolated case—many Canadian tech companies have followed a similar trajectory: growing domestically until hitting market ceilings, then ultimately seeking overseas capital or strategic buyers. Shopify founder Tobi Lütke has also previously criticized Canada for repeatedly "nurturing important companies only to send them abroad." Restricting corporate sales can easily become a political statement, but the real key to solving the problem lies in building a business environment that supports companies in financing, expansion, and competing globally.Robinhood previously announced the acquisition of WonderFi for approximately CAD 250 million. This deal also reflects the accelerating consolidation in the North American crypto industry, as US platforms expand into other markets through M&A. (Fortune)
GROVE（Grove）已上线 Bybit 现货平台，并推出 GROVE 交易赛活动
According to the official announcement, Bybit Spot listed GROVE (GROVE/USDT) on the spot market at 15:00 UTC on July 7. Meanwhile, GROVE has joined the Bybit Token Splash Trading Competition, where eligible users have the chance to participate and share a GROVE prize pool of 4 million. Grove is unlocking the potential of the stablecoin economy. Through institutional-grade asset allocation, financing, and liquidity services, Grove brings real-world assets (RWA) and real-world application scenarios on-chain, helping build the next-generation global financial market.
Bybit Will Soon List GROVE (Grove) Spot Trading
Grove is unlocking the potential of the stablecoin economy. Through institutional-grade asset allocation, financing, and liquidity services, Grove brings Real-World Assets (RWA) and real-world application scenarios on-chain, helping to build the next-generation global financial markets.
Bybit Launches Bank Triparty: Supports Borrowing USDT Collateralized with USD and U.S. Treasuries, Enhancing Institutional Capital Efficiency
Bybit officially launches Bank Triparty, providing institutional clients with lending services backed by bank-custodied collateral assets. Eligible institutions can deposit collateral assets independently with partner banks and obtain financing limits without altering existing trading strategy infrastructure.
Safe early investor Greenfield has filed a complaint with Swiss regulators, alleging that a foundation director used tokens to threaten and exert pressure.
Greenfield Capital has filed a complaint with the Swiss federal foundation regulator ESA regarding governance issues at the Safe Ecosystem Foundation, alleging that Safe Foundation directors instructed personnel to hand over a substantial amount of SAFE tokens following the Bybit hack, and threatened to force Gnosis to sell its holdings—which account for approximately 10% of the total SAFE supply—and sever ties with Safe.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
Bybit Completes Deloitte SOC 2 Type II Audit, Continues to Strengthen Global Security and Compliance Matrix
Bybit has announced the completion of a SOC 2 Type II audit independently conducted by Deloitte. This marks a key step forward in Bybit's ongoing investment in security and compliance, proactively benchmarking against the security governance standards of top global financial institutions.According to available information, SOC 2 Type II is established by the American Institute of Certified Public Accountants (AICPA) and is one of the most rigorous internationally recognized standards for security and operational assurance. Bybit stated that this audit independently verified the effective operation of its security framework across governance, technology, processes, and personnel, reflecting management's long-term commitment to making user protection a core priority at all levels.In terms of compliance development, Bybit is accelerating the construction of a multi-dimensional security moat. This SOC 2 Type II report will deeply complement its existing ISO/IEC 27001 certification and PCI DSS compliance validation, building a more comprehensive compliance system spanning information security, data protection, and operational reliability.Bybit stated that in the face of evolving industry and regulatory demands, the platform will continue to increase its investment in security capabilities, further solidifying the trust foundation of over 80 million global users and institutional partners through enhanced transparency and the introduction of independent reviews.
$388 Million in Crypto Assets Stolen, Bitget CEO Says Full Recovery Unlikely
Odaily News — Gracy Chen, CEO of cryptocurrency exchange Bitget, said the company is not optimistic about recovering the $388 million in crypto assets lost in last week's security incident. Citing the Bybit hack in 2025 as a reference, she noted that approximately one year after that incident, only about 3.5% of the stolen funds had been frozen, and that this does not equate to a completed recovery.Bitget has set up a bounty program offering 5% rewards for frozen funds and recovered funds respectively. The NEAR Intents team said it has intercepted over $50 million in assets related to the attack and frozen approximately $500,000. Tether and Circle have blacklisted the relevant wallets, freezing $318,000 worth of USDT and USDC.Gracy Chen stated that preliminary investigations indicate the attack may match VPN addresses used by North Korea-linked groups, but Bitget has not yet fully ruled out the possibility of an insider job. Bitget has resumed withdrawals in phases, starting with Bitcoin transactions on Monday and continuing with ETH transactions on Tuesday. (Cointelegraph)
Franklin Templeton Expands Tokenized Collateral Service to Bybit
Odaily News: Franklin Templeton has expanded its off-exchange collateral program to Bybit, allowing users to use their tokenized money market fund shares as collateral for crypto trading. These shares represent approximately $686 million in net assets and can be used to borrow USDT or USDC, while the underlying assets continue to generate yield.Users do not need to transfer the underlying assets to Bybit. The regulated custody platform ByCustody will hold the relevant assets off-exchange, with their value mirrored within Bybit's trading environment. Franklin Templeton has previously offered similar services to Binance and OKX users.
Two newly created wallets withdrew 1.07 million UNI tokens, worth approximately $8.38 million.
According to Lookonchain, UNI's price has risen as the U.S. Securities and Exchange Commission paves the way for compliant trading on Uniswap v4. Two newly created wallets withdrew a combined 1.07 million UNI from Binance, Bybit, and OKX, valued at approximately $8.38 million.
Withdrawal of $68.26 Million in ENA, Suspected Ethena Team-Related Wallet Moves Funds Out of Centralized Exchanges
Odaily News: A wallet suspected to be associated with the Ethena team has withdrawn a cumulative $68.26 million worth of ENA from centralized exchanges. Approximately 2 hours ago, it withdrew $13.1 million worth of ENA from Bybit and $55.16 million worth of ENA from Coinbase. The Ethena project team posted a series of transaction hashes on X 8 hours ago, though the specific details have not yet been disclosed.
Suspected Humanity Team-Linked Wallet Deposits 70 Million H Tokens Worth $4.91 Million to CEX
Odaily reports: According to Arkham monitoring, a whale address transferred 70 million H tokens worth $4.91 million to cryptocurrency exchange Bybit over the past 24 hours. This wallet had previously sent over $5.35 million worth of H tokens to Sablier.Monitoring suggests the address is likely linked to the Humanity team. It received 2.77 billion H tokens from the project team 109 days ago and still holds over 2.6 billion H. This deposit to a centralized exchange marks the wallet's first such operation. Since H tokens have been trading largely flat over the past week, this large transfer could increase the risk of price volatility going forward.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
$388 Million in Crypto Assets Stolen, Bitget CEO Says Full Recovery Unlikely
Odaily News — Gracy Chen, CEO of cryptocurrency exchange Bitget, said the company is not optimistic about recovering the $388 million in crypto assets lost in last week's security incident. Citing the Bybit hack in 2025 as a reference, she noted that approximately one year after that incident, only about 3.5% of the stolen funds had been frozen, and that this does not equate to a completed recovery.Bitget has set up a bounty program offering 5% rewards for frozen funds and recovered funds respectively. The NEAR Intents team said it has intercepted over $50 million in assets related to the attack and frozen approximately $500,000. Tether and Circle have blacklisted the relevant wallets, freezing $318,000 worth of USDT and USDC.Gracy Chen stated that preliminary investigations indicate the attack may match VPN addresses used by North Korea-linked groups, but Bitget has not yet fully ruled out the possibility of an insider job. Bitget has resumed withdrawals in phases, starting with Bitcoin transactions on Monday and continuing with ETH transactions on Tuesday. (Cointelegraph)
Franklin Templeton Expands Tokenized Collateral Service to Bybit
Odaily News: Franklin Templeton has expanded its off-exchange collateral program to Bybit, allowing users to use their tokenized money market fund shares as collateral for crypto trading. These shares represent approximately $686 million in net assets and can be used to borrow USDT or USDC, while the underlying assets continue to generate yield.Users do not need to transfer the underlying assets to Bybit. The regulated custody platform ByCustody will hold the relevant assets off-exchange, with their value mirrored within Bybit's trading environment. Franklin Templeton has previously offered similar services to Binance and OKX users.
Casualpig.eth Opens a New Position After a Year, Withdraws 1,754 ETH from Bybit
According to on-chain analyst Aunt Ai, casualpig.eth (0x651...f0314) withdrew 1,754 ETH from Bybit 3 hours ago, worth $4.65 million. This address has opened a new ETH position after a one-year gap; its previous ETH swing trade occurred between August and October 2025, when it withdrew at an ETH price of $4,751.74 and deposited back when the price dropped to $4,433.10, with an estimated loss of $449,000.
Safe early investor Greenfield has filed a complaint with Swiss regulators, alleging that a foundation director used tokens to threaten and exert pressure.
Greenfield Capital has filed a complaint with the Swiss federal foundation regulator ESA regarding governance issues at the Safe Ecosystem Foundation, alleging that Safe Foundation directors instructed personnel to hand over a substantial amount of SAFE tokens following the Bybit hack, and threatened to force Gnosis to sell its holdings—which account for approximately 10% of the total SAFE supply—and sever ties with Safe.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
$388 Million in Crypto Assets Stolen, Bitget CEO Says Full Recovery Unlikely
Odaily News — Gracy Chen, CEO of cryptocurrency exchange Bitget, said the company is not optimistic about recovering the $388 million in crypto assets lost in last week's security incident. Citing the Bybit hack in 2025 as a reference, she noted that approximately one year after that incident, only about 3.5% of the stolen funds had been frozen, and that this does not equate to a completed recovery.Bitget has set up a bounty program offering 5% rewards for frozen funds and recovered funds respectively. The NEAR Intents team said it has intercepted over $50 million in assets related to the attack and frozen approximately $500,000. Tether and Circle have blacklisted the relevant wallets, freezing $318,000 worth of USDT and USDC.Gracy Chen stated that preliminary investigations indicate the attack may match VPN addresses used by North Korea-linked groups, but Bitget has not yet fully ruled out the possibility of an insider job. Bitget has resumed withdrawals in phases, starting with Bitcoin transactions on Monday and continuing with ETH transactions on Tuesday. (Cointelegraph)
THORChain Earns Nearly $10 Million in Fees in 10 Days, Accused of Funneling Most of Bybit's Stolen Funds
Odaily News: According to on-chain analyst Yu Jin, over 90% of the funds swapped cross-chain through THORChain are illicit or grey-market funds. Yu Jin stated that most of the funds stolen from Bybit last year were transferred through THORChain, which collected nearly $10 million in fees within 10 days. Recently, some of the funds stolen from Bitget have also been transferred through THORChain, generating $1 million in fee revenue.
THORChain addresses questions regarding the Bitget security incident, emphasizing the permissionless nature of decentralized protocols.
MistTrack (@MistTrack_io) disclosed that, following the transfer of nearly $1.2 billion in stolen funds from last year's $1.46 billion Bybit hack via THORChain, Bitget has recently suffered another major security breach, with stolen funds suspected of again flowing through THORChain. In response, the official THORChain team stated that its protocol is a decentralized, permissionless network, just like Bitcoin, Ethereum, and BNB Chain.
Xie Jiaxin: The method of theft in this security incident differs from last year's Bybit incident, so different withdrawal recovery arrangements are being adopted
Odaily reports: Xie Jiaxin posted on X stating that this Bitget security incident involved multiple non-EVM chains and 10 tokens, and due to the different method of asset theft, different approaches to handling and restoring withdrawals were taken compared to last year's Bybit security incident in order to thoroughly eliminate potential risks.Additionally, Xie Jiaxin stated that he and Bitget CEO Gracy Chen will host a community livestream 30 minutes before withdrawals resume on Monday to discuss this security incident and answer community questions.Bitget announced on X that it will restore withdrawals in phases: Bitcoin network withdrawals will resume on September 28 at 8:00 (UTC); ETH withdrawals on Ethereum, BSC, Arbitrum, Base, and Optimism networks will resume on September 29 at 8:00 (UTC); USDT withdrawals on Ethereum, BSC, Solana, and Tron networks will resume on September 30 at 8:00 (UTC); other tokens, fiat, and P2P withdrawals will resume on October 2 at 8:00 (UTC). Trading and deposit services continue to operate normally, and users do not need to take any action in advance.
Withdrawal of $68.26 Million in ENA, Suspected Ethena Team-Related Wallet Moves Funds Out of Centralized Exchanges
Odaily News: A wallet suspected to be associated with the Ethena team has withdrawn a cumulative $68.26 million worth of ENA from centralized exchanges. Approximately 2 hours ago, it withdrew $13.1 million worth of ENA from Bybit and $55.16 million worth of ENA from Coinbase. The Ethena project team posted a series of transaction hashes on X 8 hours ago, though the specific details have not yet been disclosed.
Bybit Launches CT Perpetual Contract Today
Bybit today launched the Concrete (CTUSDT) perpetual contract, offering up to 20x leverage.
Bybit Lists XDP Perpetual Contract Today
Bybit today added the Doppler Finance (XDPUSDT) perpetual contract, supporting up to 25x leverage.
Bybit Lists Stock Perpetual Contracts for TWST, RUM, and CVNA Today
Bybit has added three stock perpetual contracts today: Twist Bioscience (TWSTUSDT), Rum Group (RUMUSDT), and Carvana (CVNAUSDT), supporting up to 25x leverage. Limited-time fee discounts apply upon launch: 0% rates for limit orders and 50% off for market orders.
Bybit Perp Options campaign goes live
Odaily reports: Bybit has officially launched TradFi perpetual options, supporting 24/7 trading for underlying assets such as SPCX, TSLA, NVDA, QQQ, and SOXL, with support for small-size orders and USDT settlement, no brokerage account required.The campaign runs from September 28 to October 27. During this period, users can sign up to participate and share in two major prize pools:1. New users with no prior trading history in this product before the campaign who place a first valid order with a trading volume of at least 50 USDT will each receive 5 USDT, limited to the first 1,000 users;2. The trading volume challenge unlocks prize pools based on the cumulative valid trading volume of all participants, up to a maximum of 65,000 USDT, with the top 50 individuals by valid trading volume sharing the rewards.
Bybit Launches KII Perpetual Contract Today
Bybit today added the Kiichain (KIIUSDT) perpetual contract, supporting up to 5x leverage.
Related news
Within 9 hours, an Ethena-related Gnosis Safe withdrew 117.58 million ENA worth $27.96 million from Bybit
According to Onchain Lens monitoring, an Ethena-related Gnosis Safe withdrew 62.58 million ENA worth $14.86 million from Bybit 37 minutes ago. Over the past 9 hours, this wallet has withdrawn 117.58 million ENA worth $27.96 million from Bybit.
Safe early investor Greenfield has filed a complaint with Swiss regulators, alleging that a foundation director used tokens to threaten and exert pressure.
Greenfield Capital has filed a complaint with the Swiss federal foundation regulator ESA regarding governance issues at the Safe Ecosystem Foundation, alleging that Safe Foundation directors instructed personnel to hand over a substantial amount of SAFE tokens following the Bybit hack, and threatened to force Gnosis to sell its holdings—which account for approximately 10% of the total SAFE supply—and sever ties with Safe.
Withdrawal of $68.26 Million in ENA, Suspected Ethena Team-Related Wallet Moves Funds Out of Centralized Exchanges
Odaily News: A wallet suspected to be associated with the Ethena team has withdrawn a cumulative $68.26 million worth of ENA from centralized exchanges. Approximately 2 hours ago, it withdrew $13.1 million worth of ENA from Bybit and $55.16 million worth of ENA from Coinbase. The Ethena project team posted a series of transaction hashes on X 8 hours ago, though the specific details have not yet been disclosed.
Suspected Humanity Team-Linked Wallet Deposits 70 Million H Tokens Worth $4.91 Million to CEX
Odaily reports: According to Arkham monitoring, a whale address transferred 70 million H tokens worth $4.91 million to cryptocurrency exchange Bybit over the past 24 hours. This wallet had previously sent over $5.35 million worth of H tokens to Sablier.Monitoring suggests the address is likely linked to the Humanity team. It received 2.77 billion H tokens from the project team 109 days ago and still holds over 2.6 billion H. This deposit to a centralized exchange marks the wallet's first such operation. Since H tokens have been trading largely flat over the past week, this large transfer could increase the risk of price volatility going forward.
Bybit Launches CT Perpetual Contract Today
Bybit today launched the Concrete (CTUSDT) perpetual contract, offering up to 20x leverage.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.