Bybit Claims $700M in Potential Losses Blocked by AI-Powered Security System

Bybit, a prominent crypto exchange, claims that its AI-powered security system has successfully blocked over $700 million in potential losses since January 1. The system detected and prevented more than 30,000 suspicious cryptocurrency withdrawal requests affecting nearly 20,000 users.

The exchange's AI tools reportedly identified around $212 million in funds potentially connected to fraud and helped blacklist over 10,000 cryptocurrency addresses. Bybit's use of AI has also transformed its vulnerability testing, with the system detecting high-severity security flaws at up to five times the rate of manual reviews.

The findings come as the crypto industry continues to rely on advanced AI models to identify vulnerabilities before malicious hackers can exploit them. Bybit's own estimates suggest that the time between system assessment and testing has dropped from around two weeks to roughly two hours.