Bybit exchange
Overview
Bybit is a cryptocurrency derivatives exchange founded in 2018 by Ben Zhou and headquartered in Dubai, offering perpetual contracts, futures, options, and spot trading. It is one of the largest crypto exchanges by volume and is known for its inverse and linear contract products. In February 2025, Bybit suffered a theft of roughly $1.5 billion in Ethereum — the largest cryptocurrency hack in history — attributed to North Korea's Lazarus Group; the exchange remained solvent and fully replaced the stolen customer funds within days.
Within the DeFi Intel graph, Bybit connects to 67 tracked entities, most strongly to Bitcoin (BTC) and Wintermute.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 67 total).
| Relation | Connected entity | Confidence |
|---|---|---|
lists_token | Bitcoin (BTC) | 95% |
integrates | Wintermute | 95% |
Frequently asked questions
What is Bybit?
Bybit is a Dubai-based cryptocurrency exchange founded in 2018 that specializes in derivatives trading, particularly perpetual contracts with leverage. In February 2025 it was the victim of a roughly $1.5 billion Ethereum theft, the largest crypto hack on record, attributed to North Korea's Lazarus Group.
What products does Bybit offer?
Bybit offers inverse and linear perpetual contracts, futures, spot trading, and options on its platform.
Is Bybit regulated?
Bybit is registered in various jurisdictions but does not hold a license to operate in the United States or certain other countries.
What is Bybit connected to?
In the DeFi Intel knowledge graph, Bybit is linked to 67 other tracked entities, most strongly to Bitcoin (BTC) and Wintermute.
More on Bybit
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