The Bybit alternate has recovered its liquidity to pre-hack ranges simply 30 days following the February 2025 assault that drained practically $1.5 billion in funds.
Based on a report from crypto analysis and analytics agency Kaiko, Bitcoin’s (BTC) 1% market depth, a measure of liquidity, returned to pre-hack ranges of round $13 million per day in March 2025.
Altcoin liquidity ranges on the alternate have been slower to get better than Bitcoin however have rebounded to round 80% of the pre-hack ranges. The authors of the Kaiko report added:
“This lag is essentially because of the risk-off market atmosphere, which has impacted altcoins extra severely. Whereas Bitcoin continues to be seen as a dangerous asset, it stays the crypto market’s protected haven.”
General, the alternate’s buying and selling volumes stay in restoration; nonetheless, the report notes that this drop displays the broader market pattern in response to the ongoing macroeconomic uncertainty that has rattled threat asset markets and isn’t an impact of the biggest hack in crypto history.
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Bybit’s incident response
The Bybit exchange was hacked by cybercriminals on Feb. 21, leading to $1.5 billion in stolen funds. A post-mortem update revealed a compromised gadget from a SafeWallet developer, the agency liable for the multi-signature pockets custody resolution utilized by the alternate, as the reason for the hack.
Bybit kept withdrawals open in the course of the incident, permitting customers to entry and pull their funds with little delay in the course of the disaster.
Ben Zhou, the CEO of Bybit, reassured traders that the exchange was solvent and stated that the corporate’s reserves may cowl the shortfall, whether or not or not the stolen funds had been ever recovered.
Zhou’s response united the crypto industry behind Bybit, with many opponents offering bridge loans to the alternate, technical help, and freezing the stolen funds on their protocols.
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