Bybit rebounds after $1.5B hack, posts $1.5T trading volume in 2025

Bybit recorded the second-highest trading volumes among crypto exchanges in 2025, with $1.5 trillion in trading and an 8.1% market share, a CoinGecko report said, calling the performance a 'slow but steady comeback' after a $1.5 billion hack in February 2025. CoinGecko research analyst Shaun Paul Lee said Bybit "clawed its way back to the top" and "slowly gained back its dominance throughout 2025," noting the exchange reached $1.5 trillion in total trading volume for the year.

The hack, described in the report as the largest crypto hack ever, involved North Korean attackers exploiting a vulnerability in Bybit's cold wallet infrastructure to steal $1.5 billion worth of Ether. In response to the attack, Bybit kept withdrawals open and honored user transactions.

CEO Ben Zhou appeared on camera to address users, assuring them the exchange had sufficient funds and saying it planned to secure immediate liquidity through external support. Immunefi CEO Mitchell Amador told Cointelegraph earlier this month that nearly 80% of projects that suffer a hack never fully recover, reflecting uncertainty around long-term fallout for compromised platforms.

CoinGecko's report also said six of the top 10 exchanges by market share saw trading volumes rise in 2025, with an average increase of 7.6% that added about $1.3 trillion in trades.

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