{"id":16994,"date":"2026-10-16T12:30:00","date_gmt":"2026-10-16T12:30:00","guid":{"rendered":"https:\/\/backcom.io\/?p=16994"},"modified":"2026-10-19T09:39:45","modified_gmt":"2026-10-19T09:39:45","slug":"is-bybit-legit-review","status":"publish","type":"post","link":"https:\/\/backcom.io\/en\/is-bybit-legit-review","title":{"rendered":"Is Bybit Legit? Regulation, Security And The 2025 Hack"},"content":{"rendered":"\n\n<div class=\"kk-star-ratings kksr-auto kksr-align-left kksr-valign-top\"\n    data-payload='{&quot;align&quot;:&quot;left&quot;,&quot;id&quot;:&quot;16994&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;top&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Is Bybit Legit? Regulation, Security And The 2025 Hack&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}'>\n            \n<div class=\"kksr-stars\">\n    \n<div class=\"kksr-stars-inactive\">\n            <div class=\"kksr-star\" data-star=\"1\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"2\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"3\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"4\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"5\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n    \n<div class=\"kksr-stars-active\" style=\"width: 0px;\">\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n                \n\n<div class=\"kksr-legend\" style=\"font-size: 19.2px;\">\n            <span class=\"kksr-muted\">Rate this post<\/span>\n    <\/div>\n    <\/div>\n\n<p class=\"wp-block-paragraph\">In February 2025, attackers stole about <strong>$1.5 billion<\/strong> from Bybit\u2019s ETH cold wallet. <strong>Is Bybit legit<\/strong> after a breach of that scale? A useful assessment weighs the exchange\u2019s licences, how it restored reserves, what its Proof of Reserves shows, and whether customers can access their funds. In this article, Backcom.io examines:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The entities behind the exchange, its scale, and the reach of its licences.<\/li>\n\n\n\n<li>The February 2025 hack and the rebuilding of its ETH reserves.<\/li>\n\n\n\n<li>Report 40 of its Proof of Reserves, account security, and the derivatives insurance fund.<\/li>\n\n\n\n<li>Customer complaints, country-specific access, and the checks traders can make for themselves.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">What Is Bybit? Is Bybit Legit In 2026?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Bybit legit?<\/strong> Founded in 2018, Bybit is a large digital-asset exchange with licensed entities in Austria and the UAE. It replenished its ETH reserves after the 2025 hack, but custody, security, and local regulatory risks remain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Co-founder Ben Zhou is closely associated with the business, while its international operations have been linked to an entity in Seychelles and Bybit EU GmbH serves European clients. Check your contracting entity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Scale depends on <strong>the product and period measured<\/strong>. According to <a href=\"https:\/\/www.coingecko.com\/en\/exchanges\/bybit\" target=\"_blank\" rel=\"noopener\">CoinGecko\u2019s Bybit page<\/a>, 2025 spot volume was around $1.5 trillion, ranking second with an 8.1% share. CertiK placed first-half 2026 spot volume second at roughly $397.8 billion, and futures volume fourth at about $2.27 trillion. For a product-level comparison, see this <a href=\"https:\/\/backcom.io\/en\/binance-vs-bybit-exchange-comparison\">Binance versus Bybit comparison<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Criterion<\/th><th class=\"has-text-align-left\" data-align=\"left\">Position As At 15 October 2026<\/th><th class=\"has-text-align-left\" data-align=\"left\">Verification<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">International licences<\/td><td class=\"has-text-align-left\" data-align=\"left\">Austrian entity authorised by FMA; Bybit says it holds an SCA licence in the UAE<\/td><td class=\"has-text-align-left\" data-align=\"left\">FMA confirmation; UAE status from the exchange<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Country access<\/td><td class=\"has-text-align-left\" data-align=\"left\">The applicable entity and products depend on the customer\u2019s location<\/td><td class=\"has-text-align-left\" data-align=\"left\">Check local rules and exchange terms<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">February 2025 hack<\/td><td class=\"has-text-align-left\" data-align=\"left\">About $1.5 billion stolen; Bybit reported restoring the ETH shortfall<\/td><td class=\"has-text-align-left\" data-align=\"left\">FBI confirms the theft; replenishment reported through secondary sources<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Proof of Reserves<\/td><td class=\"has-text-align-left\" data-align=\"left\">Report 40 shows at least 100% backing for 50 covered tokens<\/td><td class=\"has-text-align-left\" data-align=\"left\">Exchange disclosure reported through secondary sources<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Customer experience<\/td><td class=\"has-text-align-left\" data-align=\"left\">Trustpilot: 2.4\/5 from 7,769 reviews<\/td><td class=\"has-text-align-left\" data-align=\"left\">Public review page<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Scale<\/td><td class=\"has-text-align-left\" data-align=\"left\">Among the larger spot and derivatives venues<\/td><td class=\"has-text-align-left\" data-align=\"left\">CoinGecko and CertiK<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Together, these criteria frame a <strong>Bybit review<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bybit Regulation And Legal Status By Country<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-licences-by-region-1024x576.jpg\" alt=\"Is Bybit legit by country: MiCAR CASP in the EU 2025, SCA approval in the UAE 2025, and not FSA-registered in Japan\" class=\"wp-image-16998\" srcset=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-licences-by-region-1024x576.jpg 1024w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-licences-by-region-300x169.jpg 300w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-licences-by-region-768x432.jpg 768w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-licences-by-region-1536x864.jpg 1536w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-licences-by-region.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bybit Regulation And Legal Status By Country<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Bybit regulation<\/strong> applies to specific legal entities and services, and a licence in one market does not automatically cover every customer or every product elsewhere.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">International Licences: What They Cover<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Austria\u2019s <a href=\"https:\/\/www.fma.gv.at\/en\/granting-of-authorisation-bybit-eu-gmbh\/\" target=\"_blank\" rel=\"noopener\">Financial Market Authority confirmed<\/a> that it authorised Bybit EU GmbH as a crypto-asset service provider under MiCAR on 28 May 2025, and that authorisation covers the European entity.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Region<\/th><th class=\"has-text-align-left\" data-align=\"left\">Entity Or Licence<\/th><th class=\"has-text-align-left\" data-align=\"left\">Status And Date<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">EU\/Austria<\/td><td class=\"has-text-align-left\" data-align=\"left\">Bybit EU GmbH, CASP under MiCAR<\/td><td class=\"has-text-align-left\" data-align=\"left\">FMA confirmation, May 2025<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">UAE<\/td><td class=\"has-text-align-left\" data-align=\"left\">SCA-regulated Virtual Asset Platform Operator<\/td><td class=\"has-text-align-left\" data-align=\"left\">Bybit announced full approval in October 2025<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Cyprus<\/td><td class=\"has-text-align-left\" data-align=\"left\">Crypto-asset-related registration<\/td><td class=\"has-text-align-left\" data-align=\"left\">Reported in 2023; current scope needs checking<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Japan<\/td><td class=\"has-text-align-left\" data-align=\"left\">Not registered with the FSA<\/td><td class=\"has-text-align-left\" data-align=\"left\">FSA had warned; operations narrowed in 2026<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Other countries<\/td><td class=\"has-text-align-left\" data-align=\"left\">Entity and product access vary by location<\/td><td class=\"has-text-align-left\" data-align=\"left\">Check accepted and restricted countries before funding an account<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Authorities in Hong Kong, Ontario, and Japan have also warned about, or acted against, unregistered activity in their jurisdictions. Check your contracting entity and products, because <strong>Bybit licences have territorial and product limits.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is Bybit Available And Legal Where You Live?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Your country of residence determines the relevant restrictions<\/strong>, including which entity may serve you and whether spot or derivatives are offered. Check Bybit\u2019s current accepted and restricted-country lists and the legal name shown during KYC before depositing. Access to a website alone does not establish that a particular product is authorised locally.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Trading rules and taxes differ by residence. <strong>Check the rules in your country and consult a local tax professional before depositing or receiving a payout.<\/strong> If your account is with an overseas entity, cross-border disputes and enforcement can be difficult, and local investor protection may also differ from the protection you expect from a locally licensed provider.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Is Bybit A Scam? What The February 2025 Hack Shows<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-2025-hack-timeline-1024x576.jpg\" alt=\"Bybit hack February 2025: $1.5 billion stolen on 21 February and 446,870 ETH restored by 24 February \u2014 restored reserves are not recovered assets\" class=\"wp-image-17001\" srcset=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-2025-hack-timeline-1024x576.jpg 1024w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-2025-hack-timeline-300x169.jpg 300w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-2025-hack-timeline-768x432.jpg 768w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-2025-hack-timeline-1536x864.jpg 1536w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-2025-hack-timeline.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Is Bybit A Scam? What The February 2025 Hack Shows<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Bybit a scam?<\/strong> The hack itself does not support that conclusion because the available evidence describes Bybit as the victim of a theft. Continued withdrawal processing and replenished reserves are relevant to its response, while the breach remains a serious security failure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How The Hack Happened And How Bybit Restored $1.5 Billion<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investigators reported that malicious code in the Safe{Wallet} interface showed transaction signers one set of details while the actual instruction transferred ETH out of a cold wallet. Restoring reserves differs from recovering stolen assets.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">Date<\/th><th class=\"has-text-align-left\" data-align=\"left\">Event<\/th><th class=\"has-text-align-center\" data-align=\"center\">Reported Figure<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">21 February 2025<\/td><td class=\"has-text-align-left\" data-align=\"left\">ETH moved from the cold wallet<\/td><td class=\"has-text-align-center\" data-align=\"center\">About $1.4\u20131.5 billion<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">22 February 2025<\/td><td class=\"has-text-align-left\" data-align=\"left\">Surge in withdrawal requests processed<\/td><td class=\"has-text-align-center\" data-align=\"center\">About one day, according to Bybit\u2019s CEO<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">24 February 2025<\/td><td class=\"has-text-align-left\" data-align=\"left\">Shortfall covered through OTC deals, loans, and other inflows<\/td><td class=\"has-text-align-center\" data-align=\"center\">About 446,870 ETH<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">26 February 2025<\/td><td class=\"has-text-align-left\" data-align=\"left\">FBI attributed the theft to North Korea\u2019s TraderTraitor activity<\/td><td class=\"has-text-align-center\" data-align=\"center\">About $1.5 billion<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.ic3.gov\/PSA\/2025\/PSA250226\" target=\"_blank\" rel=\"noopener\">FBI\u2019s original notice<\/a> attributes the theft to TraderTraitor; <a href=\"https:\/\/www.securityweek.com\/fbi-says-north-korea-hacked-bybit-as-details-of-1-5b-heist-emerge\/\" target=\"_blank\" rel=\"noopener\">SecurityWeek reported<\/a> on its links with Lazarus. According to Bybit statements reported by secondary sources, the exchange received around <strong>446,870 ETH<\/strong>, worth nearly $1.23 billion at the time, to rebuild reserves in almost three days. Lookonchain data was consistent with the scale of those additions, while Bybit also said, through secondary reporting, that pending withdrawals were cleared in about a day.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">According to Bybit\u2019s statements as reported by secondary sources, no customer lost funds because of the hack\u2019s reserve shortfall: the exchange added approximately 446,870 ETH. On-chain data supports the replenishment, but cannot independently settle every individual complaint.<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">The new inflows <strong>were not the same as retrieving the stolen assets<\/strong>. Glassnode recorded Bybit\u2019s open-interest share falling from 25% to 18%, then recovering to around 21%, but the shift does not establish individual outcomes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Why A \u201cBybit Scam\u201d Label Needs Scrutiny<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">An August 2026 WikiFX article called \u201cBYBIT\u201d a scam and named Infra Capital Limited. As at this review, the claimed link between that entity and Bybit <strong>could not be verified against official company documents<\/strong>. Its score therefore cannot establish either that the exchange is fraudulent or that every complaint is unfounded.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A review-site label is not an investigation finding, so before submitting KYC documents or granting account access, check the domain and support channel yourself. Separate an actual service dispute from an impersonation attempt, and keep records of any restriction or withdrawal request.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Is Bybit Safe? Proof Of Reserves And Account Security<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-proof-of-reserves-report-40-1024x576.jpg\" alt=\"Is Bybit safe: proof of reserves report 40 shows BTC 104%, ETH 103% and USDT 110%, while reserves do not eliminate account risk\" class=\"wp-image-17004\" srcset=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-proof-of-reserves-report-40-1024x576.jpg 1024w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-proof-of-reserves-report-40-300x169.jpg 300w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-proof-of-reserves-report-40-768x432.jpg 768w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-proof-of-reserves-report-40-1536x864.jpg 1536w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-proof-of-reserves-report-40.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Is Bybit Safe? Proof Of Reserves And Account Security<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Bybit safe?<\/strong> The answer depends on what its reserve report covers, what can be checked independently, and which losses remain yours to bear, while the 2025 breach makes those limits especially important.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What Does Proof Of Reserves Report 40 Show?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Proof of Reserves (PoR) compares assets held by an exchange with customer liabilities for the covered tokens. The question is whether reported holdings cover customer balances at the snapshot.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>Proof of Reserves ratio = Reserve assets \u00f7 Customer-deposited assets \u00d7 100%<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">At 100%, reported reserves match covered customer balances one for one at that moment. According to Bybit information carried by secondary sources, Hacken verified report 40 using a snapshot dated 23 September 2026. All <strong>50 tokens in scope<\/strong> had reported ratios of at least 100%.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Asset<\/th><th class=\"has-text-align-center\" data-align=\"center\">Reported Reserve Ratio<\/th><th class=\"has-text-align-left\" data-align=\"left\">Reported Amounts<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">BTC<\/td><td class=\"has-text-align-center\" data-align=\"center\">104%<\/td><td class=\"has-text-align-left\" data-align=\"left\">About 56,131 BTC of customer assets; 58,722 BTC in reserves<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">ETH<\/td><td class=\"has-text-align-center\" data-align=\"center\">103%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ratio from report 40\u2019s snapshot<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">USDT<\/td><td class=\"has-text-align-center\" data-align=\"center\">110%<\/td><td class=\"has-text-align-left\" data-align=\"left\">About 3.59 billion USDT of customer assets; 3.96 billion USDT in reserves<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">All 50 covered tokens<\/td><td class=\"has-text-align-center\" data-align=\"center\">At least 100%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Mainstream assets totalled about $19.6 billion<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>These figures refer to the 23 September 2026 snapshot; check the newest report before deciding.<\/strong> The published BTC ratio and the rounded BTC balances do not calculate to precisely the same whole percentage. PoR is a <strong>point-in-time view<\/strong>, not a financial audit or confirmation of liabilities outside the report\u2019s scope.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Insurance Fund And What It Does Not Cover<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">According to Bybit information reported by secondary sources, since December 2025 the perpetual insurance fund for newer USDT contract groups has had a <strong>$8 million minimum<\/strong>; some other groups have <strong>$2\u20134 million<\/strong>. <strong>The fund\u2019s current total size has not been verified.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That fund addresses derivatives losses. <strong>It is not deposit insurance<\/strong> for assets held on the exchange. A sharp market move can still cause mass liquidations, as the 11 October 2025 shock illustrated. Bybit estimated it had prevented roughly $700 million in potential losses in the first half of 2026, according to its statements reported by secondary sources, but that estimate guarantees nothing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Account controls are still your responsibility:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enable two-factor authentication or a passkey, and secure your login email.<\/li>\n\n\n\n<li>Check the domain, withdrawal address, and every security-change notice.<\/li>\n\n\n\n<li>Keep only the assets needed for active trading on the exchange.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Bybit Review: What Customer Feedback Actually Shows<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-trustpilot-review-1024x576.jpg\" alt=\"Bybit review on Trustpilot: 2.4 out of 5 from 7,769 self-selected reviews with 51% one-star and 36% five-star\" class=\"wp-image-17007\" srcset=\"https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-trustpilot-review-1024x576.jpg 1024w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-trustpilot-review-300x169.jpg 300w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-trustpilot-review-768x432.jpg 768w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-trustpilot-review-1536x864.jpg 1536w, https:\/\/backcom.io\/wp-content\/uploads\/2026\/10\/bybit-trustpilot-review.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bybit Review: What Customer Feedback Actually Shows<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">A <strong>Bybit review<\/strong> should weigh reserve disclosures against what customers report when they need account access or withdrawals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As at <strong>15 October 2026<\/strong>, <a href=\"https:\/\/www.trustpilot.com\/review\/bybit.com\" target=\"_blank\" rel=\"noopener\">Trustpilot rated Bybit 2.4\/5<\/a>, labelled \u201cPoor,\u201d from <strong>7,769 reviews<\/strong>, including 1,109 posted over the preceding 12 months. Ratings were sharply split: <strong>51% were one-star<\/strong> and <strong>36% were five-star<\/strong>, but neither figure measures problems across all customers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recurring complaints described:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Restricted accounts or temporarily frozen funds during compliance reviews.<\/li>\n\n\n\n<li>Slow KYC processing, with some reports exceeding 30 days.<\/li>\n\n\n\n<li>Repeated requests for enhanced verification without a clear reason.<\/li>\n\n\n\n<li>Template support replies without a resolution date.<\/li>\n\n\n\n<li>Delayed deposits, refunds, or withdrawals.<\/li>\n\n\n\n<li>Promotional benefits that did not appear as expected.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">People choose whether to post a review, so the <strong>51% one-star share is not a failure rate<\/strong>. Public replies from Bybit also do not establish that each individual issue was resolved. Read the date, supporting details, and exchange response before drawing conclusions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, withdrawals continued after the hack, and PoR reports continued to appear. Backcom.io cannot turn these self-selected complaints into a reliable rate of failed accounts or withdrawals, so plan for possible compliance holds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Who Should Consider Bybit, And Who Should Think Twice?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Whether Bybit suits you<\/strong> depends on the markets you trade, your tolerance for custodial risk, and the rules that apply where you live, while liquidity does not settle them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Bybit may fit traders who:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Need spot or derivatives trading on a large-volume venue in the specific market they use.<\/li>\n\n\n\n<li>Follow periodic PoR reports and understand that each is a snapshot.<\/li>\n\n\n\n<li>Can complete KYC, secure their accounts, and accept the risks of an international exchange.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Think carefully if you:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Need a provider licensed for your location and intended product.<\/li>\n\n\n\n<li>Cannot tolerate an account or withdrawal being held for compliance review.<\/li>\n\n\n\n<li>Require deposit insurance for assets kept in custody.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Four practical risks deserve a separate check:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Cross-border disputes:<\/strong> Claiming and enforcing your rights may be difficult.<\/li>\n\n\n\n<li><strong>Tax:<\/strong> Treatment of digital-asset transactions varies by residence.<\/li>\n\n\n\n<li><strong>Operations:<\/strong> KYC and compliance checks can take longer than expected.<\/li>\n\n\n\n<li><strong>Market access:<\/strong> An exchange may narrow services when local rules change.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Read the <a href=\"https:\/\/backcom.io\/vi\/risk-disclaimer\">risk disclaimer<\/a> and set an amount you can afford to lose. Large trading volume does not reduce leverage risk, so compare spot and futures risks before trading.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently Asked Questions (FAQ) About Bybit\u2019s Credibility<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Is Bybit Legit?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Bybit legit?<\/strong> Bybit EU holds MiCAR authorisation, Bybit says it obtained an SCA licence in the UAE, and the exchange replenished ETH reserves after the 2025 hack. They do not erase the breach or authorise every service everywhere, so check your contracting entity, current PoR, KYC terms, and complaint process. Trustpilot\u2019s 2.4\/5 rating is another signal to investigate, not a verdict.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Did Customers Lose Money In The 2025 Bybit Hack?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">According to Bybit statements reported by secondary sources, the exchange added about <strong>446,870 ETH<\/strong> in almost three days to cover the reserve shortfall and cleared pending withdrawals in roughly a day. On-chain data supports the added assets, but it does not prove that every individual complaint was settled or every account could withdraw without delay. Check your balances, transaction history, and account notices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What Bybit Licences Apply In My Country?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Bybit regulation<\/strong> depends on the entity and service. Austria\u2019s FMA authorised Bybit EU GmbH under MiCAR in May 2025; Bybit announced a full SCA Virtual Asset Platform Operator licence in the UAE in October 2025. Neither automatically extends to another jurisdiction or product, so read the contracting entity in your terms, check accepted and restricted countries, and confirm local rules before funding an account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Why Does Bybit Have A 2.4\/5 Trustpilot Rating?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>2.4\/5<\/strong> average combines a sharply divided set of reviews: 51% one-star and 36% five-star at the stated check date. Negative posts often concern account restrictions, KYC, withdrawals, and support, but Trustpilot cannot tell you the chance that your own account will face a problem. Check when each review was posted and whether the exchange gave a substantive response.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is Bybit A Scam?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Bybit a scam?<\/strong> A hack or low review score alone cannot establish that claim: the FBI described the 2025 incident as a theft from the exchange. The connection between Bybit and the Infra Capital entity named by WikiFX was not verifiable from official documents at the check date. Assess service complaints separately from impersonation, and verify the precise company and domain involved.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion: Is Bybit Legit?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Bybit legit?<\/strong> The exchange has licences for particular markets and replenished reserves after the roughly $1.5 billion hack. Traders still face security, custody, and jurisdiction-specific risks, while its 2.4\/5 Trustpilot score warrants a close look at account-level complaints. Before depositing, check the latest PoR, the entity and KYC terms that apply to you, and the amount you can afford to lose. If you plan to use futures rather than spot, make sure the added liquidation risk fits that limit.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Disclaimer:<\/strong> Backcom.io compiled this article as at 15 October 2026 for information only; it is not investment or legal advice. Exchange policies and figures can change. Rules and taxes differ by residence, and an overseas exchange may not provide the investor protections available through a locally licensed provider.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Bybit restored its ETH reserves after the 2025 theft, but the breach and account-level complaints still matter. This review examines its licences, reserve report and risks by location.<\/p>\n","protected":false},"author":3,"featured_media":16995,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[356,359],"tags":[816],"class_list":["post-16994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insight","category-knowledge","tag-bybit-legit"],"acf":[],"views":1,"_links":{"self":[{"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/posts\/16994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/comments?post=16994"}],"version-history":[{"count":2,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/posts\/16994\/revisions"}],"predecessor-version":[{"id":18029,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/posts\/16994\/revisions\/18029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/media\/16995"}],"wp:attachment":[{"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/media?parent=16994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/categories?post=16994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backcom.io\/en\/wp-json\/wp\/v2\/tags?post=16994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}