Bybit recovers liquidity levels 30 days after hack — Kaiko

The Bybit trade has recovered its liquidity to pre-hack levels 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 levels of round $13 million per day in March 2025.

Altcoin liquidity levels on the trade have been slower to get well than Bitcoin however have rebounded to round 80% of the pre-hack levels. The authors of the Kaiko report added:

“This lag is essentially as a result of risk-off market setting, which has impacted altcoins extra severely. Whereas Bitcoin remains to be seen as a dangerous asset, it stays the crypto market’s secure haven.”

General, the trade’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 danger asset markets and isn’t an impact of the biggest hack in crypto history.

Associated: Hacken CEO sees ‘no shift’ in crypto security as April hacks hit $357M

Bybit’s incident response

The Bybit exchange was hacked by cybercriminals on February 21, 2025, leading to $1.5 billion in stolen funds. A post-mortem update revealed a compromised machine from a SafeWallet developer, the agency answerable for the multi-signature pockets custody resolution utilized by the trade, as the reason for the hack.

Bybit kept withdrawals open throughout the incident, permitting customers to entry and pull their funds with little delay throughout the disaster.

Ben Zhou, the CEO of Bybit, reassured buyers that the exchange was solvent and stated that the corporate’s reserves might 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 trade, technical help, and freezing the stolen funds on their protocols.

Journal: Deposit risk: What do crypto exchanges really do with your money?

(*30*)