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Bybit

RegisteredMiCA application pendingESMA register

Bybit Fintech Limited

Exchange🇦🇪 United Arab Emirates Founded 2018bybit.com
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Last reviewed
2026-08-03

Compliance snapshot

  • VARA VASP licence (Dubai); no EU CASP authorization yet
  • Exited or suspended service in several European markets in 2024-2025
  • Trustpilot 3.2/5 · 9,400 reviews
  • USD 1.5bn hot-wallet theft in February 2025
Overall concern
High concern

Very large derivatives venue with limited EU authorization, a 2025 hot-wallet theft of exceptional size and several national market exits.

Regulatory

Licenses & registrations

User signals

Reputation

Trustpilot-style score
3.2/ 5
3.2
9,400 reviews
Declining (12m)
App ratings
App Store
4.3
Google Play
3.7
Press sentiment (12m)
Positive2
Neutral3
Negative6
Media

Recent press

  • 2026-07-26
    Exchange details security overhaul after record theftNeutral

    Reuters — Signing infrastructure was rebuilt and moved to multi-party computation.

  • 2026-05-19
    Venue applies for EU authorizationPositive

    Bloomberg — An application was filed with a central European regulator.

  • 2026-03-08
    Regulator warns over unlicensed accessNegative

    Financial Times — A national authority warned residents about accessing the platform.

  • 2025-12-04
    Insurance fund replenishedNeutral

    CoinDesk — The venue said client balances remained fully backed after the incident.

  • 2025-02-22
    Record theft hits major crypto exchangeNegative

    Reuters — Attackers drained an Ethereum cold-to-hot transfer worth about USD 1.5bn.

History

Incidents & enforcement

  1. 2025-02-21HackUSD 1,500,000,000

    Compromised signing workflow allowed attackers to drain an Ethereum wallet; the company covered the shortfall.

  2. 2024-01-08Enforcement

    Ordered to cease serving retail clients in a European market without registration.

  3. 2023-11-02Outage

    Withdrawal delays of several hours during a network congestion event.