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Bybit

Bybit Review

3.6Last updated: August 5, 2026·Author: CryptoRanking Editorial Team
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⚠ Note:Bybit is not available to customers in the United States. It received a Crypto-Asset Service Provider (CASP) authorization under the EU's MiCA framework in May 2025 — a current, positive regulatory status — but also has a real history worth knowing: it exited the UK market in 2021 following an FCA restriction, and settled a $228 million lawsuit from the FTX bankruptcy estate in October 2024 over withdrawal-practice allegations dating to FTX's 2022 collapse.
Maker / Taker Fee
0.1% / 0.1%
Coins supported
Checking
Daily volume
Checking
Security incidents
Yes

Score breakdown

Computed directly from the data above — see the exact formula in our methodology.

Fees4.0/5

Average maker/taker fee: 0.100% (lower fees score higher, scaled against 0.5%).

Security track record0.0/5

Has a publicly documented history of a major hack or breach of user funds.

Coins supported2.5/5

Number of supported coins not yet verified.

Trading liquidity2.5/5

Daily trading volume not yet verified.

The February 2025 hack

On February 21, 2025, attackers compromised Safe Wallet infrastructure used by Bybit during a routine transfer and stole approximately 400,000 ETH — roughly $1.4-1.5 billion at the time, the largest crypto exchange hack on record. The U.S. FBI and multiple blockchain-analytics firms attributed the attack to North Korea's Lazarus Group.

To Bybit's credit, the response was fast: the exchange fully replenished its reserves within 72 hours through emergency bridge funding from Galaxy Digital, FalconX, and Wintermute, and no customer ultimately lost funds. That's a genuinely strong recovery — but the scale of the breach itself is still the single most important fact to know about this exchange before depositing significant funds here.

About Bybit

Bybit was founded in 2018 by CEO Ben Zhou. Its operational headquarters moved from Singapore to Dubai in 2022, while it's incorporated in the British Virgin Islands — both real, non-contradictory facts about where the company operates versus where it's legally domiciled. Bybit is widely recognized as one of the largest exchanges in the world by trading volume, particularly in derivatives and perpetual futures, though we can't independently confirm an exact daily figure or coin count from public sources.

Fees

Bybit charges a flat 0.1% maker / 0.1% taker fee on standard spot trading, in line with many large exchanges, with lower rates typically available at higher volume tiers.

Regulatory standing

Bybit received a Crypto-Asset Service Provider (CASP) authorization under the EU's MiCA framework in May 2025, a genuine current regulatory positive. That sits alongside real historical friction: it exited the UK market in 2021 following a restriction from the Financial Conduct Authority, is not available to customers in the United States, and settled a $228 million lawsuit from the FTX bankruptcy estate in October 2024 over withdrawal-practice allegations dating to FTX's 2022 collapse. None of these are currently active enforcement actions, but they're part of a real track record worth weighing alongside the February 2025 hack.

Bybit Details

  • Maker/taker fees: 0.10% / 0.10%
  • Founded: 2018
  • Security incident history: Yes — February 2025, ~$1.4-1.5B stolen, fully covered within 72 hours
  • U.S. access: Not available
  • EU status: MiCA CASP-authorized since May 2025

Pros

  • Publicly recognized as one of the largest exchanges globally by spot trading volume, and especially large in derivatives
  • Authorized as a Crypto-Asset Service Provider under the EU's MiCA framework as of May 2025
  • Fully replenished stolen funds within 72 hours of its 2025 hack via emergency bridge funding — no user ultimately lost money

Cons

  • Suffered the largest crypto exchange hack on record in February 2025 — roughly $1.4-1.5 billion stolen — a serious fact for any security-conscious user regardless of the fast recovery
  • Not available to customers in the United States
  • Incorporated in the British Virgin Islands, a lighter-touch jurisdiction, alongside its operational base in Dubai
  • Past regulatory friction includes a 2021 UK market exit and a settled 2024 lawsuit from the FTX bankruptcy estate

Frequently asked questions

Has Bybit ever been hacked?

Yes, Bybit has a publicly documented history of a major hack or breach — see the security section above for the specific incident and how it was resolved. Bybit is not available to customers in the United States. It received a Crypto-Asset Service Provider (CASP) authorization under the EU's MiCA framework in May 2025 — a current, positive regulatory status — but also has a real history worth knowing: it exited the UK market in 2021 following an FCA restriction, and settled a $228 million lawsuit from the FTX bankruptcy estate in October 2024 over withdrawal-practice allegations dating to FTX's 2022 collapse.

What are the fees on Bybit?

Bybit charges a maker fee of 0.1% and a taker fee of 0.1% of the trade value, though the actual rate can vary with trading volume or fee-tier plan.

How many cryptocurrencies does Bybit support?

We're still confirming this directly with the exchange — the exact number of cryptocurrencies available on Bybit isn't confirmed yet.

What is Bybit's trading volume?

Bybit doesn't publish a directly comparable 24-hour trading volume figure, or we couldn't confirm one confidently.

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