What Happened In Bybit Exchange Today 21 February 2025? | Latest Update

As of right now, February 21, 2025, 5:20 PM WAT, the situation surrounding Bybit Exchange and reports of a potential hacking incident is unfolding and marked by a mix of confirmed developments and unverified rumors.

Earlier today, Bybit officially announced a significant transparency upgrade, making all liquidation data publicly accessible in real-time via an enhanced API, updated every 500 milliseconds. This move, intended to bolster trust and provide market insights, was widely praised as an industry-first.

However, within hours, this positive news was overshadowed by growing concerns over suspicious activity involving Bybit’s wallets.

Posts on X and unconfirmed reports circulating as recently as an hour ago (around 4:20 PM to 4:50 PM WAT) suggest that Bybit may have experienced a security breach, with claims of massive outflows ranging from $1.28 billion to $1.5 billion in Ethereum (ETH). 

Some users on X have pointed to unusual wallet activity, speculating that a hack could be underway, with figures like 401,346 ETH (valued at over $1 billion) allegedly moved to unknown addresses. These claims have sparked panic in the crypto community, with some urging users to withdraw funds immediately. 

However, as of this moment, no official statement from Bybit has confirmed a hack, and these reports remain unverified. Blockchain explorers and independent analysts have yet to substantiate the exact nature of these transactions—whether they represent a breach, a legitimate operational shift, or misinterpreted data like a whale sell-off.

Bybit’s operational status appears intact for now, with no reported disruptions to trading, deposits, or withdrawals. 

The exchange’s history of emphasizing security, including AI-powered fraud detection that prevented over $79 million in suspicious withdrawals in 2024, contrasts with the current uncertainty. 

Earlier in February 2025, Bybit achieved FIU compliance in India and rolled out new features, reinforcing its operational momentum—making the timing of these rumors particularly striking.

The juxtaposition of Bybit’s transparency announcement with these unconfirmed outflow reports has fueled mixed reactions. Some view the liquidation data release as a proactive step, while others see the timing as suspicious amid the alleged wallet activity. 

Without official confirmation, the situation remains fluid. For the most reliable updates, monitor Bybit’s official channels (@Bybit_Official on X or announcements.bybit.com). 

Until clarity emerges, treat hack-related claims as inconclusive and exercise caution, as the crypto community continues to watch this closely.