Bybit recovers market share to 7% after $1.4B hack
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Bybit’s market share rebounded to its pre-hack levels of over 7% despite a broader macro “de-risking” among cryptocurrency investors.
Bybit’s market share has rebounded to pre-hack levels following a $1.4 billion exploit in February, as the crypto exchange implements tighter security and improves liquidity options for retail traders.
The crypto industry was rocked by its largest hack in history on Feb. 21 when Bybit lost over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other digital assets.
Despite the scale of the exploit, Bybit has steadily regained market share, according to an April 9 report by crypto analytics firm Block Scholes.
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