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- Bybit CEO Ben Zhou dismissed insolvency and hacking rumors.
- Independent examinations affirmed the security of funds.
- Bybit launched its Global P2P Ranger Recruitment program.
Bybit’s CEO, Ben Zhou, recently addressed and dispelled rumors that the exchange has been breached and is insolvent. These rumors were primarily fueled by a glitch in Arkham Intelligence’s Proof-of-Reserves (PoR) graph, which caused it to display empty Bybit wallets. This news triggered panic among market participants as it gained momentum on X (formerly Twitter). However, independent examinations showed that funds contained in the platform were secure and unaffected..
Taking to his X account, Zhou cleared the air regarding the insolvency and hacking claims, saying, “Hearing some rumours about Bybit being insolvent or hacked and etc. Please note that we have updated our POR this month as well as you can view all Bybit wallet through Nansen (Total more than 11B) . None of the rumours that I have see so far have any real facts supporting it, Please be aware.”
Zhou also shared a link confirming that Bybit holds over 100% of user assets and the exchange can fulfill all withdrawal requests.
The Nansen data showed Bybit’s wallets containing over $11 billion in crypto assets. This figure represents the token aggregate in Bybit’s addresses per the reported data. Nonetheless, Nansen noted that the data does not represent an absolute assertion of Bybit’s assets or reserves.
In a separate development, Bybit has announced its Global P2P Ranger Recruitment program. The initiative aims to encourage a vibrant P2P trading ecosystem, with incentives tied to monthly performance. According to reports from Yahoo Finance, the initiative will provide crypto enthusiasts with a monthly reward of 1,000 USDT.
The program’s requirement states that interested individuals should be passionate about cryptocurrency and P2P trading, in addition to having a weekly availability of 25 hours. Other conditions include English proficiency, with fluency in other languages viewed as a plus.
Furthermore, qualified candidates will be rewarded based on their active engagement and community support. Bybit’s team will review applications and extend invitations to eligible candidates to join the platform’s global network and contribute to enhancing the P2P trading experience.
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