Bybit, a major cryptocurrency exchange, has shown impressive resilience after a massive $1.5 billion hack in February 2025. An independent report by Kaiko, a crypto market data provider, confirms Bybit’s liquidity bounced back to pre-hack levels within just 30 days. This is much faster than other exchanges have recovered from similar events.
A Month-Long Recovery
Kaiko’s analysis shows Bybit’s Bitcoin liquidity reached its pre-hack average daily level of $13 million by the end of Q1 2025. This recovery was seen across all trading levels. A key factor in this quick turnaround was Bybit’s Retail Price Improvement (RPI) orders, launched just a day before the attack. These orders, used by institutional market makers, helped stabilize trading and protect individual traders from potentially exploitative trading strategies.
Altcoins and Trading Volumes Also Recovered
The recovery wasn’t limited to Bitcoin. Over 80% of the pre-hack market depth for the top 30 altcoins was restored by March. Spreads (the difference between the buy and sell price) on major cryptocurrencies tightened significantly, indicating improved trading conditions. Trading volumes, while initially spiking to $1.2 billion immediately after the hack, quickly normalized and started climbing again, suggesting strong user confidence. This recovery was faster than seen in previous major crypto exchange incidents.
Transparency Was Key
The Kaiko report highlights Bybit’s transparency throughout the recovery process as a key differentiator. Open communication and proactive improvements helped rebuild trust and stabilize the market faster than usual.
Setting a New Standard
Bybit’s quick recovery sets a new benchmark for resilience in the crypto exchange industry. It demonstrates that a fast response, coupled with transparency and innovative market solutions, can significantly mitigate the impact of major security incidents.