Bybit recovers liquidity levels 30 days after hack — Kaiko

The Bybit speech has recovered its liquidity to pre-hack levels conscionable 30 days pursuing the February 2025 onslaught that drained astir $1.5 cardinal successful funds.

According to a report from crypto probe and analytics steadfast Kaiko, Bitcoin's (BTC) 1% marketplace depth, a measurement of liquidity, returned to pre-hack levels of astir $13 cardinal per time successful March 2025.

Bitcoin liquidity connected Bybit speech rebounds to pre-hack levels. Source: Kaiko

Altcoin liquidity levels connected the speech person been slower to retrieve than Bitcoin but person rebounded to astir 80% of the pre-hack levels. The authors of the Kaiko study added:

"This lag is mostly owed to the risk-off marketplace environment, which has impacted altcoins much severely. While Bitcoin is inactive seen arsenic a risky asset, it remains the crypto market’s harmless haven."

Overall, the exchange's trading volumes stay successful recovery; however, the study notes that this driblet reflects the broader marketplace inclination successful effect to the ongoing macroeconomic uncertainty that has rattled hazard plus markets and is not an effect of the biggest hack successful crypto history.

Altcoin liquidity connected the level has been slower to retrieve than Bitcoin liquidity. Source: Kaiko

Related: Hacken CEO sees ‘no shift’ successful crypto information arsenic April hacks deed $357M

Bybit's incidental response

The Bybit speech was hacked by cybercriminals connected February 21, 2025, resulting successful $1.5 cardinal successful stolen funds. A post-mortem update revealed a compromised instrumentality from a SafeWallet developer, the steadfast liable for the multi-signature wallet custody solution utilized by the exchange, arsenic the origin of the hack.

Bybit kept withdrawals open during the incident, allowing users to entree and propulsion their funds with small hold during the crisis.

A condensed timeline of events of the February 2025 Bybit hack. Source: Kaiko

Ben Zhou, the CEO of Bybit, reassured investors that the speech was solvent and said that the company's reserves could screen the shortfall whether oregon not the stolen funds were ever recovered.

Zhou's effect united the crypto industry down Bybit, with galore competitors providing span loans to the exchange, method assistance, and freezing the stolen funds connected their protocols.

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