Bybit resumes trading in India after regulatory approval
The post Bybit resumes trading in India after regulatory approval appeared on BitcoinEthereumNews.com.
Bybit has resumed its trading services in India after securing registration with Indian authorities, the exchange announced on Feb. 25. The move restores full access to Bybit’s platform for existing users, with new user onboarding also beginning gradually. The exchange had suspended several services in January, citing regulatory challenges. At the time, Bybit was in the process of obtaining an operational license from India’s Financial Intelligence Unit. The latest announcement confirms that Bybit has now met regulatory requirements, allowing Indian users to open new trades and access all platform features. Bybit’s return comes at a critical time, as major exchanges like Binance continue to compete for market share in India despite regulatory scrutiny. The country remains a key market for crypto firms, with increasing adoption and trading volumes. Bybit hack The announcement follows a turbulent period for Bybit, which recently suffered a massive security breach. Bybit suffered a $1.5 billion hack on February 21, marking the largest crypto heist in history. The attack targeted the exchange’s Ethereum cold wallet, with hackers deceiving its multi-signature security protocols. Blockchain analysts linked the breach to North Korea’s Lazarus Group, known for high-profile cyber thefts, including the Ronin and WazirX hacks. Park Jin Hyok, a long-suspected Lazarus member, emerged as a key figure. Previously linked to the 2014 Sony hack and 2017 WannaCry ransomware, Hyok reportedly led the group’s shift to crypto crimes. Lazarus embedded operatives in crypto firms, using phishing and insider intelligence to bypass security. Bybit’s breach followed a pattern of laundering stolen assets through decentralized protocols. In 2024, North Korean hackers stole $1.34 billion; within two months of 2025, they had already exceeded that figure. Source: https://crypto.news/bybit-resumes-trading-in-india-after-regulatory-approval/
Filed under: News - @ February 25, 2025 10:24 pm