Cryptocurrency exchange Bybit expresses its sincere gratitude to the global crypto community for the tremendous support they have shown following the recent security incident. This unprecedented display of solidarity not only reinforces Bybit’s resilience, but also lays the foundation for strengthening industry-wide measures to respond to and prevent future hacks. From institutional liquidity providers to leading blockchain security companies, the swift and coordinated response demonstrates the power of the Web3 community.
Joint response to threats
Once the incident was discovered, Bybit’s security team took immediate action - locking down systems, protecting funds, and working with top cybersecurity experts. The exchange received tremendous support from key players in the industry, who worked together to track, contain, and mitigate the impact of the vulnerability.
Bybit co-founder and CEO Ben Zhou expressed his gratitude:
“It’s been a challenging time for Bybit, but one thing is clear - our partners have always had our back. The support from Antalpha Global, Bitget, Pionex, MEXC, SoSoValue, Galaxy Digital, FalconX, Lido Finance, Solana Foundation, Ton Foundation, Ghaf Capital, Fenbushi, Bitvavocom, Tether and many others has been incredible. Your trust, swift action and solidarity are what keeps us going. We are moving forward, more determined and stronger than ever. Thank you for being with us.”
Industry leaders take immediate action
Several important players in the DeFi and CeFi fields acted quickly to prevent the further flow of stolen funds and maintain market stability:
Orbiter, deBridge, SynFutures, MYX, Thruster, and Owlto blacklisted addresses associated with the vulnerability to prevent unauthorized transfers.
Chainalysis quickly tracked down and published the attacker’s wallet address, allowing the industry to coordinate a response.
The SIS cross-chain bridge actively blocked the relevant addresses, limiting the attackers ability to launder money.
Zero Shadows has activated a 24/7/365 global response team that works closely together to track and identify criminals, trace funds, and communicate with law enforcement to support investigations and recovery efforts.
Institutional clients including TMSI, Bayside Trading, Mathrix, Wintermute, Cumberland, GSR Markets and others maintained their trading positions, strengthening market stability amid uncertainty.
Ben added: “Their confidence in us, despite the difficulties, sends an important message - it’s a testament to the industry’s maturity and resilience. It shows crypto’s strongest players coming together at a critical moment.”
A united community
Bybit also thanks its VIP customers, traders, and user community at large for their unwavering support. The encouragement and patience of community members have played an important role in the exchange’s round-the-clock efforts to strengthen security measures and protect funds.
“While this is a difficult moment, it’s also a powerful reminder of why we are here — to build an open, resilient, decentralized financial future,” said Ben. “The real work has just begun, and the solidarity shown in this space gives us confidence that we will emerge stronger than ever.”
Bybit remains committed to transparency and will continue to provide updates as additional security enhancements are implemented. The exchange is working closely with industry leaders to set new standards for crisis management, ensuring user safety and trust while strengthening the industry’s defenses against future threats.
