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Project Overview
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform for crypto traders. It has an ultra-fast matching engine, excellent customer service, and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace, and API support to retail and institutional clients around the world. It strives to be the most reliable exchange for the emerging digital asset class.
Bybit Pay integrates with Mesh crypto payment network, enabling direct payments using exchange balances
Odaily Odaily News: Bybit Pay, the payment arm of cryptocurrency exchange Bybit, has integrated with crypto payment infrastructure provider Mesh, allowing users to directly use their Bybit account balances to make payments or top up accounts on Mesh-supported platforms without the need to withdraw or transfer assets first. Merchants can add Bybit Pay as a payment option through existing Mesh integrations and use programmable settlement features to control settlement timing and methods across different markets.Mesh stated that its network is already connected to over 300 wallets, exchanges, and financial service platforms. In January this year, the company completed a $75 million Series C funding round led by Dragonfly, reaching a valuation of $1 billion, with cumulative funding exceeding $200 million. It also plans to expand into markets in Latin America, Asia, and Europe. (Cointelegraph)
Bybit launches SHEIN pre-market perpetual contract today
Bybit today added a Pre-IPO pre-market perpetual contract for Shein (SHEINUSDT), supporting up to 10x leverage. Users can trade its valuation ahead of Shein's official listing.
WonderFi Founder Criticizes Canada's Innovation Environment: Struggling to Grow, Forced into Sale to Robinhood
Odaily News - Karia Samaroo, founder and former CEO of Canadian crypto company WonderFi, recently stated that the company's acquisition by US trading platform Robinhood Markets for CAD 250 million was not due to a lack of growth potential, but rather because Canada's market environment has restricted local tech companies from continuing to scale.Samaroo said that WonderFi was founded in 2021. After several years of development, the company consolidated Canada's fragmented crypto market, built a nationwide brand, and survived the QuadrigaCX collapse, the FTX crash, and Canada's strict crypto regulatory environment. By 2023, WonderFi had become a leading crypto platform in the Canadian market.However, he believes that succeeding in Canada was not the company's ultimate goal. WonderFi had originally hoped to grow into a global enterprise, and Robinhood saw WonderFi as a strategic gateway into the Canadian market, which led to the CAD 250 million acquisition. Samaroo pointed out that Canada has long faced structural issues that limit companies' ability to scale, including insufficient venture capital, weak public markets, regulatory fragmentation, and declining attractiveness of entrepreneurial returns.For the crypto industry, the challenges are even more pronounced. Samaroo noted that after the QuadrigaCX incident, Canadian regulators established one of the world's strictest crypto regulatory frameworks. While the original intent was to protect investors, it also increased operational costs for businesses. International trading platforms including Binance, OKX, Bybit, and Gemini all entered the Canadian market previously and then exited. He believes that Canada's crypto regulations are not only strict but also compounded by fragmented securities regulatory systems, leading to higher financing costs, increased operational complexity, and diminished interest from overseas investors.Samaroo said that WonderFi is not an isolated case—many Canadian tech companies have followed a similar trajectory: growing domestically until hitting market ceilings, then ultimately seeking overseas capital or strategic buyers. Shopify founder Tobi Lütke has also previously criticized Canada for repeatedly "nurturing important companies only to send them abroad." Restricting corporate sales can easily become a political statement, but the real key to solving the problem lies in building a business environment that supports companies in financing, expansion, and competing globally.Robinhood previously announced the acquisition of WonderFi for approximately CAD 250 million. This deal also reflects the accelerating consolidation in the North American crypto industry, as US platforms expand into other markets through M&A. (Fortune)
GROVE（Grove）已上线 Bybit 现货平台，并推出 GROVE 交易赛活动
According to the official announcement, Bybit Spot listed GROVE (GROVE/USDT) on the spot market at 15:00 UTC on July 7. Meanwhile, GROVE has joined the Bybit Token Splash Trading Competition, where eligible users have the chance to participate and share a GROVE prize pool of 4 million. Grove is unlocking the potential of the stablecoin economy. Through institutional-grade asset allocation, financing, and liquidity services, Grove brings real-world assets (RWA) and real-world application scenarios on-chain, helping build the next-generation global financial market.
Bybit Will Soon List GROVE (Grove) Spot Trading
Grove is unlocking the potential of the stablecoin economy. Through institutional-grade asset allocation, financing, and liquidity services, Grove brings Real-World Assets (RWA) and real-world application scenarios on-chain, helping to build the next-generation global financial markets.
Bybit Launches Bank Triparty: Supports Borrowing USDT Collateralized with USD and U.S. Treasuries, Enhancing Institutional Capital Efficiency
Bybit officially launches Bank Triparty, providing institutional clients with lending services backed by bank-custodied collateral assets. Eligible institutions can deposit collateral assets independently with partner banks and obtain financing limits without altering existing trading strategy infrastructure.
Bybit Accelerates Push Toward a "New Financial Platform," Officially Launches Stock Trading
Bybit co-founder and CEO Ben Zhou said in his latest semi-annual keynote speech that the company is transitioning from a crypto exchange to a more comprehensive financial platform. Following its entry into the traditional finance (TradFi) sector in 2022, Bybit officially launched stock trading on October 12. Eligible users can trade over 1,000 US stocks and ETFs through Bybit Stocks using USDC, with support for fractional shares and nearly 24-hour trading.In addition, Bybit plans to partner with Mantle to launch mStocks in November, a tokenized product pegged 1:1 to real stocks, and has already launched its IPO Express service, allowing users to participate in selected IPO opportunities at the issue price. The platform's TradFi products now cover more than 600 offerings across stocks, ETFs, indices, commodities, and forex, with cumulative trading volume of related perpetual contracts exceeding $180 billion.On the payments side, Bybit Pay and Bybit Card have connected over 5,000 merchants across more than 15 countries, with card issuance surpassing 4 million. During the same period, the company also obtained new licenses in multiple jurisdictions and launched an AI assistant to support trading and account management.
Bybit Stocks Officially Launches, Offering Users Access to Over 1,000 U.S. Stocks and ETFs
Odaily report: New financial platform Bybit today announced the official launch of Stocks, allowing eligible users to trade over 1,000 U.S.-listed stocks and ETFs through Bybit, covering a wide range of popular U.S. equities and ETF tickers.Following the launch of Stocks, Bybit users who have completed KYC verification and are located in permitted regions can directly buy and sell supported U.S. stocks and ETFs using USDC. Unlike price derivatives or synthetic instruments, Stocks gives Bybit users access to the economic rights of a broader range of securities.Key features currently available on Stocks include:- Over 1,000 U.S. stocks and ETFs, with fractional share trading supported for eligible securities- Trading with USDC, funded directly from your Bybit account- Corporate action support, including cash dividends, stock dividends, and stock splits- 24/5 trading, covering U.S. pre-market, regular, and after-hours sessions (subject to product availability)- Zero commission on eligible stock tradesEligible users holding positions can receive the corresponding economic rights. Cash dividends will be converted from USD to USDC and deposited into the Unified Trading Account (UTA), while stock dividends will be directly reflected in users' holdings. Voting rights are planned for a later phase.Orders are routed through Bybit's regulated brokerage infrastructure and executed by U.S. self-clearing broker Alpaca, with underlying securities custodied by Alpaca. In addition to crypto spot and derivatives trading, Bybit also connects to traditional market opportunities through the MT5 platform, tokenized stocks, and TradFi perpetual contracts, and the launch of Bybit Stocks further completes Bybit's multi-asset platform layout.Bybit Stocks is offered by Infra Capital Limited (introducing broker), which is regulated by the Mauritius Financial Services Commission (GB23202169). Clearing and settlement services for U.S. securities are provided by Alpaca Securities LLC (FINRA/SIPC member). Specific terms and conditions for this product are available on the official website. Investment products carry the risk of principal loss, and users should read the Risk Disclosure Statement before investing.
ZachXBT Goes Undercover in Lazarus Group-Linked Money Laundering Ring: Invested Nearly $3.5 Million in OTC Trades with Counterparty Using the Alias Jimmy Green
Odaily News: On-chain detective ZachXBT posted on X that he once posed as a client to infiltrate a criminal group suspected of laundering money for the North Korea-backed hacker organization Lazarus Group, and assisted in freezing funds related to the 2025 Bybit attack.ZachXBT stated that after Bybit suffered a $1.5 billion attack in February 2025, he discovered that more than 15 accounts in public Telegram and Discord groups were seeking help processing transactions related to the stolen funds. He subsequently contacted one of the Telegram users using the alias "Jimmy Green" and built trust through multiple transactions. According to his disclosure, on March 6, 2025, he transferred $3.497 million in USDC to an Ethereum address for a USDC-to-TRON-chain USDT exchange transaction with the counterparty. The source of gas funds for that address can be traced back to the Bybit attack funds and was publicly flagged as a Bybit attack blacklisted address.ZachXBT said that in subsequent communications, the counterparty revealed that their team had been involved in processing the stolen Bybit funds and disclosed in advance that the funds would be moved across chains including Solana. By matching transaction timing, amounts, and on-chain data, he identified a wallet cluster involving more than $12 million in Bybit attack funds, with fund paths spanning multiple networks including BTC→ETH→SOL→TRON. Approximately 442,000 USDT was frozen by Tether, and the group also attempted to launder money through Uniswap liquidity pools and low-liquidity tokens. Additionally, the counterparty disclosed having helped other clients process approximately $3 million in fraudulent proceeds, and ZachXBT traced the related funds to wallets associated with the sanctioned Huione Guarantee.ZachXBT revealed that in this investigation, he initially invested $3.497 million and bore a loss risk of approximately 5% per transaction. The intelligence ultimately obtained was provided to relevant investigative agencies and law enforcement authorities at the earliest opportunity. Since 2022, he has assisted in freezing over $75 million in funds related to North Korea-linked incidents.
Safe early investor Greenfield has filed a complaint with Swiss regulators, alleging that a foundation director used tokens to threaten and exert pressure.
Greenfield Capital has filed a complaint with the Swiss federal foundation regulator ESA regarding governance issues at the Safe Ecosystem Foundation, alleging that Safe Foundation directors instructed personnel to hand over a substantial amount of SAFE tokens following the Bybit hack, and threatened to force Gnosis to sell its holdings—which account for approximately 10% of the total SAFE supply—and sever ties with Safe.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
Bybit Completes Deloitte SOC 2 Type II Audit, Continues to Strengthen Global Security and Compliance Matrix
Bybit has announced the completion of a SOC 2 Type II audit independently conducted by Deloitte. This marks a key step forward in Bybit's ongoing investment in security and compliance, proactively benchmarking against the security governance standards of top global financial institutions.According to available information, SOC 2 Type II is established by the American Institute of Certified Public Accountants (AICPA) and is one of the most rigorous internationally recognized standards for security and operational assurance. Bybit stated that this audit independently verified the effective operation of its security framework across governance, technology, processes, and personnel, reflecting management's long-term commitment to making user protection a core priority at all levels.In terms of compliance development, Bybit is accelerating the construction of a multi-dimensional security moat. This SOC 2 Type II report will deeply complement its existing ISO/IEC 27001 certification and PCI DSS compliance validation, building a more comprehensive compliance system spanning information security, data protection, and operational reliability.Bybit stated that in the face of evolving industry and regulatory demands, the platform will continue to increase its investment in security capabilities, further solidifying the trust foundation of over 80 million global users and institutional partners through enhanced transparency and the introduction of independent reviews.
Jiang Zhuoer: Binance's potential loss accounts for 1.6% of user assets, and a large-scale wave of withdrawals is not expected
Odaily reports: Jiang Zhuoer, founder of Litecoin Pool, posted on X platform that Binance's potential loss accounts for a limited proportion of user assets and is not expected to trigger a large-scale wave of withdrawals.He compared this situation with the Bybit theft incident in February 2025: Bybit was hacked for approximately $1.46 billion at the time, accounting for 9.01% of its approximately $16.2 billion in user assets; if Binance's gross outflow this time is $5.64 billion, of which $3 billion has been frozen, the net amount after deduction would be approximately $2.64 billion, accounting for 1.6% of its approximately $165.12 billion in user assets.In addition, the gross outflow may also include internal fund transfers by the platform and normal user withdrawals, and cannot all be regarded as stolen funds. Binance is capable of bearing the relevant losses.
OKX Star: Calls for Joint Industry-Level Security Standards, Opposes Security Becoming a Competitive Domain
According to official sources, in response to recent security incidents involving Bybit, Bitget, and Binance, OKX founder and CEO Star stated that security should not be an area of commercial competition, but rather a shared responsibility of the entire crypto industry. Over the past decade, major exchanges have made significant progress in private key protection, but potential risks remain in access control and wallet management systems. He emphasized that no system is absolutely secure, and any major security breach at any exchange could undermine trust in the entire industry.Star called on major exchanges in the crypto industry to strengthen cooperation and jointly establish stricter industry security standards and coordinated response mechanisms, including adding verification and security delays for large withdrawals to unknown addresses and smart contract authorization transactions, and implementing key security restrictions at the cryptographic signing layer. Meanwhile, the industry should establish real-time security incident reporting, joint monitoring of suspicious funds, and rapid response mechanisms, and promote collaborative research in areas such as quantum-resistant cryptography and AI-driven security threat defense. He emphasized that no single company can safeguard the future of the crypto industry alone.
Worth $25.3 million, a whale deposited 240,000 SOL to three exchanges in 24 hours
according to Lookonchain monitoring, a whale is selling SOL, having deposited 240,000 SOL worth $25.3 million to Binance, OKX, and Bybit over the past 24 hours.
A whale withdrew 10 million ARB from a CEX, worth $1.82 million
according to Arkham monitoring, whale address 0x204 withdrew 10 million Arbitrum (ARB) from Bybit within 2 hours, and had previously also withdrawn approximately 73,400 Uniswap (UNI) tokens, with a total value of about $2.34 million.It is worth noting that Arbitrum unlocked over 93 million ARB yesterday, and nearly 500,000 tokens continue to unlock each day thereafter. Despite facing sustained token unlock pressure, the ARB price has still risen significantly recently and has remained at a high level over the past month.
A whale withdrew 1 million CAKE from a CEX, worth $2.16 million
Odaily reports: According to Arkham monitoring, whale 0xf82 withdrew 1 million PancakeSwap (CAKE) tokens from Bybit, worth $2.16 million. In addition, the whale also withdrew 800 BNB, worth approximately $576,000.The PancakeSwap core team previously proposed a governance proposal called "The Flip," which plans to increase the proportion of trading fees from v3 and Infinity liquidity pools distributed to liquidity providers (LPs) to 88%, covering all 11 supported blockchains, while reducing CAKE's daily effective emissions from 22,500 to 7,000, a decrease of approximately 69%.
Largest in nearly a year: a certain address deposited $2.85 million in ENA to Bybit
According to on-chain analyst Ai Yi, a certain address deposited $2.85 million in ENA to Bybit again after a one-month gap, involving 11.64 million ENA tokens. The related tokens originated from an Ethena Proxy address. This deposit is the largest in nearly a year, and its purpose is unknown.
OneKey Founder: IBIT Could Become Target of North Korean Cyberattacks, Coinbase's Single-Custody Model Raises Security Concerns
OneKey founder Yishi issued a warning that as Bitcoin ETF holdings increase, the security risks faced by custodians are also rising, and noted that BlackRock's spot Bitcoin ETF (IBIT) could become a potential target for North Korean hacking groups. The post states that TRM Labs is highly confident the recent Binance security breach is linked to the North Korean hacking group TraderTraitor, which has previously been implicated in the Bybit hack and the DMM Bitcoin theft.
Jiang Zhuoer: Binance's potential loss accounts for 1.6% of user assets, and a large-scale wave of withdrawals is not expected
Odaily reports: Jiang Zhuoer, founder of Litecoin Pool, posted on X platform that Binance's potential loss accounts for a limited proportion of user assets and is not expected to trigger a large-scale wave of withdrawals.He compared this situation with the Bybit theft incident in February 2025: Bybit was hacked for approximately $1.46 billion at the time, accounting for 9.01% of its approximately $16.2 billion in user assets; if Binance's gross outflow this time is $5.64 billion, of which $3 billion has been frozen, the net amount after deduction would be approximately $2.64 billion, accounting for 1.6% of its approximately $165.12 billion in user assets.In addition, the gross outflow may also include internal fund transfers by the platform and normal user withdrawals, and cannot all be regarded as stolen funds. Binance is capable of bearing the relevant losses.
OKX Star: Calls for Joint Industry-Level Security Standards, Opposes Security Becoming a Competitive Domain
According to official sources, in response to recent security incidents involving Bybit, Bitget, and Binance, OKX founder and CEO Star stated that security should not be an area of commercial competition, but rather a shared responsibility of the entire crypto industry. Over the past decade, major exchanges have made significant progress in private key protection, but potential risks remain in access control and wallet management systems. He emphasized that no system is absolutely secure, and any major security breach at any exchange could undermine trust in the entire industry.Star called on major exchanges in the crypto industry to strengthen cooperation and jointly establish stricter industry security standards and coordinated response mechanisms, including adding verification and security delays for large withdrawals to unknown addresses and smart contract authorization transactions, and implementing key security restrictions at the cryptographic signing layer. Meanwhile, the industry should establish real-time security incident reporting, joint monitoring of suspicious funds, and rapid response mechanisms, and promote collaborative research in areas such as quantum-resistant cryptography and AI-driven security threat defense. He emphasized that no single company can safeguard the future of the crypto industry alone.
OKX Founder Star: Security should not be a domain for commercial competition; a stronger coordinated response mechanism should be established.
OKX founder Star stated that following a series of security incidents at Bybit, Bitget, and Binance, he called on industry CEOs to join forces and establish stronger security standards and coordinated response mechanisms, including mandatory security restrictions at the signature layer, real-time incident reporting, and rapid freezing of stolen assets.
Blockaid Co-Founder: Binance Hack May Stem from Private Key Misuse Rather Than a Leak, Resembles Operations by North Korean Hackers
Blockaid CEO Ido Ben-Natan stated that the preliminary assessment indicates Binance was either hacked or had its private keys "abused" due to a compromised signing infrastructure, rather than a private key leak, and noted that it is highly similar to the Bybit theft incident.
Bybit: Platform unaffected, willing to provide support to Binance in multiple areas
Bybit founder and CEO Ben Zhou stated that reports of security incidents at multiple platforms are circulating on social media. Bybit has not been affected in any way, its systems are operating normally, trading and withdrawal functions remain available, and user assets are secure. Bybit is willing to provide support to Binance in multiple areas.
Bybit today launched six stock perpetual contracts including XP, Industrial Select SPDR ETF, and Booking Holdings.
Bybit has added six stock perpetual contracts today: XP Inc. (XPUSDT), SPDR Industrials Select Sector ETF (XLIUSDT), Booking Holdings Inc. (BKNGUSDT), iShares MSCI Brazil Small-Cap ETF (EWZSUSDT), Occidental Petroleum Corp. (OXYUSDT), and NuScale Power Corporation (SMRUSDT), offering up to 25x leverage. Limited-time fee discounts are available upon launch: 0% for limit orders and 50% off for market orders.
Bybit: Platform unaffected, willing to provide support to Binance in multiple areas
Bybit founder and CEO Ben Zhou stated that reports of security incidents at multiple platforms are circulating on social media. Bybit has not been affected in any way, its systems are operating normally, trading and withdrawal functions remain available, and user assets are secure. Bybit is willing to provide support to Binance in multiple areas.
Bybit Launches EIDO, EQT, and STM Stock Perpetual Contracts Today
Bybit today added three stock perpetual contracts: iShares MSCI Indonesia ETF (EIDOUSDT), EQT Corporation (EQTUSDT), and STMicroelectronics (STMUSDT), with support for up to 25x leverage. Limited-time trading fee discounts are available at launch: Limit order fee: 0%, Market order fee: 50% off.
Bybit partners with XAUE Protocol to launch XAU₮ fixed-term deposits with an APY of 2.83%
Bybit partners with XAUE Protocol to launch a 90-day fixed-yield XAU₮ product with a 2.83% annualized yield and a total allocation of 2,000 XAUT, available on a first-come, first-served basis.
Tether Partners with Kraken, Bybit and Others to Establish FASE Foundation, Aims to Provide Humanitarian Aid to Up to 1 Million People via Stablecoins
Odaily Report: Tether has announced the establishment of FASE (Financial Access and Systemic Empowerment Foundation), a Swiss nonprofit foundation focused on four key areas: financial security, financial inclusion, access to resources, and responsible AI and robotics technology. Founding parties include Tether, Kraken, Bybit, the Solana Foundation, Chainalysis, and Anchorage Digital, among other institutions.FASE's first batch of projects includes a partnership with youth platform Goodwall, planning to provide digital education and anti-fraud tools to up to 10 million young people, with a focus on Africa, Latin America, and Southeast Asia; and a pilot with Prosper Global to distribute humanitarian aid via stablecoins, initially covering up to 1 million people.In addition, FASE will collaborate with the United Nations Trust Fund to support civil society organizations in multiple African countries that provide assistance to survivors of human trafficking.
Bybit Launches PREDICT Pre-Market Perpetual Contract Today
Bybit today added a Predict (PREDICTUSDT) pre-market perpetual contract, supporting up to 5x leverage.
Related news
A newly created wallet withdrew 68,773 SOL from a CEX, worth approximately $6.65 million
According to Lookonchain monitoring, a newly created wallet withdrew 68,773 SOL from Kraken, Bybit, and OKX, worth approximately $6.65 million.
Bybit today launched six stock perpetual contracts including XP, Industrial Select SPDR ETF, and Booking Holdings.
Bybit has added six stock perpetual contracts today: XP Inc. (XPUSDT), SPDR Industrials Select Sector ETF (XLIUSDT), Booking Holdings Inc. (BKNGUSDT), iShares MSCI Brazil Small-Cap ETF (EWZSUSDT), Occidental Petroleum Corp. (OXYUSDT), and NuScale Power Corporation (SMRUSDT), offering up to 25x leverage. Limited-time fee discounts are available upon launch: 0% for limit orders and 50% off for market orders.
OneKey Founder: IBIT Could Become Target of North Korean Cyberattacks, Coinbase's Single-Custody Model Raises Security Concerns
OneKey founder Yishi issued a warning that as Bitcoin ETF holdings increase, the security risks faced by custodians are also rising, and noted that BlackRock's spot Bitcoin ETF (IBIT) could become a potential target for North Korean hacking groups. The post states that TRM Labs is highly confident the recent Binance security breach is linked to the North Korean hacking group TraderTraitor, which has previously been implicated in the Bybit hack and the DMM Bitcoin theft.
Jiang Zhuoer: Binance's potential loss accounts for 1.6% of user assets, and a large-scale wave of withdrawals is not expected
Odaily reports: Jiang Zhuoer, founder of Litecoin Pool, posted on X platform that Binance's potential loss accounts for a limited proportion of user assets and is not expected to trigger a large-scale wave of withdrawals.He compared this situation with the Bybit theft incident in February 2025: Bybit was hacked for approximately $1.46 billion at the time, accounting for 9.01% of its approximately $16.2 billion in user assets; if Binance's gross outflow this time is $5.64 billion, of which $3 billion has been frozen, the net amount after deduction would be approximately $2.64 billion, accounting for 1.6% of its approximately $165.12 billion in user assets.In addition, the gross outflow may also include internal fund transfers by the platform and normal user withdrawals, and cannot all be regarded as stolen funds. Binance is capable of bearing the relevant losses.
OKX Star: Calls for Joint Industry-Level Security Standards, Opposes Security Becoming a Competitive Domain
According to official sources, in response to recent security incidents involving Bybit, Bitget, and Binance, OKX founder and CEO Star stated that security should not be an area of commercial competition, but rather a shared responsibility of the entire crypto industry. Over the past decade, major exchanges have made significant progress in private key protection, but potential risks remain in access control and wallet management systems. He emphasized that no system is absolutely secure, and any major security breach at any exchange could undermine trust in the entire industry.Star called on major exchanges in the crypto industry to strengthen cooperation and jointly establish stricter industry security standards and coordinated response mechanisms, including adding verification and security delays for large withdrawals to unknown addresses and smart contract authorization transactions, and implementing key security restrictions at the cryptographic signing layer. Meanwhile, the industry should establish real-time security incident reporting, joint monitoring of suspicious funds, and rapid response mechanisms, and promote collaborative research in areas such as quantum-resistant cryptography and AI-driven security threat defense. He emphasized that no single company can safeguard the future of the crypto industry alone.
OKX Founder Star: Security should not be a domain for commercial competition; a stronger coordinated response mechanism should be established.
OKX founder Star stated that following a series of security incidents at Bybit, Bitget, and Binance, he called on industry CEOs to join forces and establish stronger security standards and coordinated response mechanisms, including mandatory security restrictions at the signature layer, real-time incident reporting, and rapid freezing of stolen assets.