Bybit Rebuilds Trust After $1 Billion Hack

Bybit has made significant strides in rebuilding trust after a major security breach in 2025, when attackers compromised a cold wallet and drained over $1 billion worth of Ethereum. The exchange has since implemented enhanced security measures, including multi-signature approval and threshold signature schemes.

The Bybit Unified Trading Account (UTA) allows users to hold spot, margin, perpetual, futures, and options positions in one account, enabling capital efficiency and streamlined trading. The exchange's derivatives menu includes perpetual contracts, dated futures, and options, with the recent addition of equity-linked perpetual options tied to tokenized equity exposure.

Bybit's fee structure is competitive, with non-VIP spot trading starting at 0.10% for both makers and takers. Derivatives fees are lower on the maker side, with standard perpetual and futures contracts beginning at around 0.02% for makers and 0.055% for takers.

The exchange's security infrastructure includes a wallet architecture built around cold storage, multi-signature approval, and threshold signature schemes. Bybit also publishes Proof of Reserves reports using Merkle-tree verification to provide transparency on asset backing.