DUBAI, UAE, Feb. 26, 2025 — Bybit, the world’s second-largest crypto exchange regarding trading volume, has released an update concerning the recent security breach. Preliminary results from an ongoing investigation confirm the integrity of Bybit’s infrastructure and provide key insights into the nature of the attack.

The investigation into the targeted attack by the Lazarus Group revealed that a Safe developer’s credentials had been compromised. This enabled the attacker to gain unauthorized entry into the Safe(Wallet) infrastructure and manipulate signers into approving a harmful transaction.

Bybit enlisted the help of third-party forensic experts, including Verichains and Sygnia Labs, to perform an independent assessment. The experts found no evidence of any compromise within Bybit’s systems, which supports Bybit’s claims regarding the security of its environment.

Full report can be downloaded here:

Bybit’s Immediate Response and Future Measures

On the day of the incident, Bybit moved most of its funds out of its Safe Wallet administered addresses. The safety and security of our users remains our priority. We are actively exploring alternative custody wallet solutions that meet the highest security standards.

Bybit is and will remain 100% secure. Initial findings by forensic experts indicate that our infrastructure was not breached. We will continue to improve our security protocols and collaborate with leading security experts to ensure user safety.

Statement from Ben Zhou, Co-founder and CEO of Bybit:

“Bybit is dedicated to security and transparency. Initial forensic analysis shows that our system was not compromised. While this incident highlights the growing risks in the crypto space, we are proactively strengthening security to provide the highest level of protection for our users.”

#Bybit / #TheCryptoArk 

About Bybit

Bybit, established in 2018, is the second-largest cryptocurrency exchange by trading volume, serving over 60 million users globally. Bybit aims to create a more accessible, open, and equitable ecosystem for everyone in the decentralized world. With a strong focus on Web3, Bybit strategically partners with leading blockchain protocols to offer robust infrastructure and promote on-chain innovation. Known for its secure custody, diverse marketplaces, user-friendly experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Learn more about the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit

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