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The world’s second-biggest cryptocurrency trading platform, Bybit, achieved an impressive recovery as outlined in its 2025 midyear financial update.
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This enabled the company to demonstrate strength and expansion amid one of the toughest periods in cryptocurrency history.
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The organization experienced a cyberattack costing approximately KSh 180 billion within the same timeframe being examined.
Although the infamous Lazarus Group launched a synchronized cyber-attack worth USD 1.4 billion (KSh 180.9 billion) at the start of 2025, Bybit remained unaffected.
The second-largest cryptocurrency globally stated there was no damage to user funds and that liquid assets were quickly restored, alongside an increase in available services and compliance efforts.
One of the most significant cybersecurity challenges the cryptocurrency sector has encountered involved an attack on one of Bybit’s partners.
Nevertheless, Bybit’s swift handling of the situation and established operations kept every user balance completely secure, due to the 1:1 reserve assurance.
The transaction involved more than $141 million in illegal transfers and secured nearly $30 million via its Lazarus Bounty initiative, with an additional $73 million frozen.
“We’ve demonstrated not just our financial stability and safety, but also our commitment to complete openness—particularly when it counts,” stated Ben Zhou, co-founder and CEO of Bybit.
He pointed out the newly granted MiCAR license in Austria as a significant achievement, allowing Bybit to cater to over 450 million Europeans within a completely regulated system, thereby strengthening its image as the leading reliable access point to Web3.
Bybit’s statistics highlight its strong market standing: Having over 70 million verified users (as of May 9th), Bybit has reaffirmed its status as the globe’s second-biggest cryptocurrency platform based on transaction volume.
How BTC market performed
The BTC market depth increased to $13 million (KSh 1.7 billion) daily within 30 days, topping the sector in terms of liquidity revival.
Besides enhancing security with more than 50 improvements and nine reviews within one month, Bybit is promoting progress via artificial intelligence-driven trading solutions.
Over five million users have started using TradeGPT, Bybit’s artificial intelligence assistant created to improve investment choices.
The platform also added more than 78 conventional financial products along with over 10 tokenized equities, enabling traders to buy and sell shares such as Apple (AAPL), Tesla (TSLA), and ETFs like SPY directly on-chain through Bybit TradFi and xStocks.
Bybit’s impact goes beyond the finance industry. The Bybit Card has over 2 million users who can make purchases with Mastercard, Apple Pay, and Google Pay across more than 150 million retailers globally.
The organization has committed over $2 million (KSh 258.4 million) towards international aid initiatives and community programs, such as academic grants and emergency assistance across various regions of the world.
Trading in US shares
Bybit’s development aligns with overall patterns in blockchain-based financial systems, highlighted by services like Bitget, which has lately enabled tokenized U.S. stocks for investors in Kenya.
This advancement enables regular investors in Kenya and elsewhere to invest in international stocks using blockchain technology—introducing Wall Street to emerging markets while bypassing conventional obstacles.
The opening up of finance is a key element of an expanding movement within decentralized finance (DeFi), which seeks to bring conventional assets into the cryptocurrency world, promoting worldwide usage and economic access.
