Bybit Fights FUD with Proof of Reserves, Unveils New P2P Program
- Bybit CEO Ben Zhou dismissed insolvency and hacking rumors.
- Independent examinations affirmed the security of funds.
- Bybit launched its Global P2P Ranger Recruitment program.
Bybit’s CEO, Ben Zhou, recently addressed and dispelled rumors that the exchange has been breached and is insolvent. These rumors were primarily fueled by a glitch in Arkham Intelligence’s Proof-of-Reserves (PoR) graph, which caused it to display empty Bybit wallets. This news triggered panic among market participants as it gained momentum on X (formerly Twitter). However, independent examinations showed that funds contained in the platform were secure and unaffected..
Taking to his X account, Zhou cleared the air regarding the insolvency and hacking claims, saying, “Hearing some rumours about Bybit being insolvent or hacked and etc. Please note that we have updated our POR this month as well as you can view all Bybit wallet through Nansen (Total more than 11B) . None of the rumours that I have see so far have any real facts supporting it, Please be aware.”
Zhou also shared a link confirming that Bybit holds over 100% of user assets and the exchange can fulfill all withdrawal re…
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