Bybit cryptocurrency exchange security incidents

In February 2025, the cryptocurrency exchange Bybit suffered a theft of approximately $1.5 billion in digital assets. The FBI attributed the attack to North Korea, noting that attackers exploited vulnerabilities in the authorization process and compromised the signature interface rather than breaking the blockchain itself.

In response to the incident, Bybit expanded its security infrastructure. According to its H1 2026 Risk & Security Report, the exchange implemented a three-layer protection model involving user account security, real-time on-chain monitoring, and AI-assisted operations. Between January 1 and June 15, 2026, these measures reportedly intercepted more than $700 million in potential user losses and handled over 30,000 suspicious withdrawal requests.

David Zong, Head of Group Risk Control and Security at Bybit, stated that the company is using AI to strengthen risk-control capabilities while maintaining human judgment at the center of critical security decisions to combat evolving cyber threats. The exchange reported 100% coverage for business-relevant on-chain monitoring and an average initial risk review time of 4.7 minutes.