Bybit faced the largest crypto theft of $1.5 billion, yet through decisive actions and open communication, it reinforced its position.
Rapid Response and Transparent Communication
Bybit CEO Ben Zhou took to the forum 30 minutes post-incident and conducted a two-hour livestream to clarify the situation. This action reduced concern levels and set new crisis management standards in the industry.
Seamless Operations and Client Support
Despite the theft, Bybit continued to provide withdrawal services, demonstrating high team efficiency in crisis situations and ensuring clients received prompt interaction with their managers.
Lessons for the Industry
The crypto community supported Bybit by executing wallet-blocking operations exchange-wide after the incident. The industry united in the face of threat, which helped secure client assets and highlight the importance of collaboration.
Bybit demonstrated crisis management capability, enhancing rapid response standards and setting examples for other industry participants.
