{"id":2135,"date":"2025-04-02T12:27:00","date_gmt":"2025-04-02T11:27:00","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=2135"},"modified":"2025-04-02T12:53:50","modified_gmt":"2025-04-02T11:53:50","slug":"bybit-suspends-nft-ido-services-after-1-billion-hack","status":"publish","type":"post","link":"https:\/\/preprod.investx.fr\/en\/crypto-news\/bybit-suspends-nft-ido-services-after-1-billion-hack\/","title":{"rendered":"Bybit Suspends NFT and IDO Services After $1.5 Billion Hack !"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"the-nft-industry-in-peril-after-bybits-massive-hack\"><strong>The NFT Industry in Peril After Bybit&#8217;s Massive Hack<\/strong><\/h2>\n\n\n\n<p><strong>Bybit<\/strong>, one of the world&#8217;s largest <strong>crypto exchanges<\/strong>, announced the <strong>closure of its NFT marketplace<\/strong> and Initial DEX Offering (IDO) product pages. This decision comes shortly after the platform suffered a major cyberattack, resulting in the loss of nearly <strong>$1.5 billion in digital assets<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">As part of our commitment to adjusting our product roadmap and enhancing user experience, Bybit Web3 will discontinue its NFT Marketplace, Inscription Marketplace, and IDO product pages on April 8, 2025, at 16:00 (UTC).<br><br>\ud83d\udce2 Check for details: <a href=\"https:\/\/t.co\/zgSTpiQe02\">https:\/\/t.co\/zgSTpiQe02<\/a> <a href=\"https:\/\/t.co\/9JhNsazTQy\">pic.twitter.com\/9JhNsazTQy<\/a><\/p>&mdash; Bybit Web3 (@Bybit_Web3) <a href=\"https:\/\/twitter.com\/Bybit_Web3\/status\/1907078749436440718?ref_src=twsrc%5Etfw\">April 1, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In line with our commitment to adjusting our product roadmap and enhancing the user experience, Bybit Web3 will terminate its <a href=\"https:\/\/preprod.investx.fr\/en\/nft\/\">NFT marketplace<\/a>, Listing marketplace, and IDO product pages on 8th April 2025 at 16:00 (UTC).&#8221;<\/p>\n<\/blockquote>\n\n\n\n<p>Bybit cited a &#8220;<strong>desire to streamline its offerings<\/strong>&#8221; as the reason for this closure. However, the timing raises questions about the implications of the<strong> platform&#8217;s recent attack<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"bybit-forced-to-rethink-strategy-after-cyberattack\"><strong>Bybit Forced to Rethink Strategy After Cyberattack<\/strong><\/h2>\n\n\n\n<p>The decision to <strong>close its NFT and IDO platforms<\/strong> comes after the devastating <strong>cyberattack that shook Bybit<\/strong> in late February 2025. The hack is attributed to North Korean cybercriminals and resulted in the theft of about <strong>$1.46 billion in digital assets<\/strong>.<\/p>\n\n\n\n<p>Bybit CEO, Ben Zhou, assures that the <strong>exchange <\/strong>was actively <strong>tracking the stolen funds<\/strong>. However, information suggests that a significant portion of the assets had already been laundered through mixing services, making them virtually untraceable.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\u267b\ufe0f Bybit CEO <a href=\"https:\/\/twitter.com\/benbybit?ref_src=twsrc%5Etfw\">@benbybit<\/a> has pledged to pursue all possible avenues to recover the funds stolen during the recent hack linked to the Lazarus Group. <a href=\"https:\/\/twitter.com\/hashtag\/Bybit?src=hash&amp;ref_src=twsrc%5Etfw\">#Bybit<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a><a href=\"https:\/\/t.co\/xhPQR6fIRv\">https:\/\/t.co\/xhPQR6fIRv<\/a><\/p>&mdash; Cryptonews.com (@cryptonews) <a href=\"https:\/\/twitter.com\/cryptonews\/status\/1893641059629981930?ref_src=twsrc%5Etfw\">February 23, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Following this breach, the company has faced increased scrutiny from regulators and concerns about its <strong>security infrastructure<\/strong>. The closure of its <strong>NFT <\/strong>and <strong>IDO <\/strong>platforms could be a <strong>strategic decision<\/strong> to mitigate potential risks related to compliance issues and <strong>post-hack liquidity problems<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"the-future-of-nft-marketplaces-at-risk\"><strong>The Future of NFT Marketplaces at Risk?<\/strong><\/h2>\n\n\n\n<p>Bybit&#8217;s decision is part of a broader trend of <strong>NFT platform closures<\/strong>. This includes the recent shutdown of <strong>LG Electronics&#8217; NFT marketplace<\/strong>, LG Art Lab. This trend reflects the <strong>significant decline in NFT transaction volumes<\/strong>, which have dropped below $100 million, well below the peak of $3.24 billion recorded in August 2021.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\u274c Global tech giant <a href=\"https:\/\/twitter.com\/LGUS?ref_src=twsrc%5Etfw\">@LGUS<\/a> Electronics has announced the closure of its NFT platform, LG Art Lab, after three years of operation. <a href=\"https:\/\/twitter.com\/hashtag\/LG?src=hash&amp;ref_src=twsrc%5Etfw\">#LG<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&amp;ref_src=twsrc%5Etfw\">#NFT<\/a><a href=\"https:\/\/t.co\/7AgNkR8enk\">https:\/\/t.co\/7AgNkR8enk<\/a><\/p>&mdash; Cryptonews.com (@cryptonews) <a href=\"https:\/\/twitter.com\/cryptonews\/status\/1904477201128722847?ref_src=twsrc%5Etfw\">March 25, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The <strong>NFT sector<\/strong> continues to face significant challenges. For platforms like Bybit, the current market environment has proven too challenging to sustain in the NFT space. With ongoing closures and declining transaction volumes, <strong>the future of digital assets remains uncertain<\/strong>. Only the strongest players are likely to survive.<\/p>\n\n\n\n<p>Additionally, if you are considering buying crypto, the <strong>WEEX<\/strong> platform allows you to do so easily. Here&#8217;s how to buy <a href=\"https:\/\/preprod.investx.fr\/en\/crypto-investing\/buy\/bitcoin\/\">Bitcoin<\/a>, for example:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Create a <a href=\"https:\/\/www.weex.com\/newbieActivities?id=520&amp;type=BEGINNER_TASK&amp;vipCode=ku3x\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>WEEX<\/strong> <\/a>account by signing up in minutes.<\/li>\n\n\n\n<li>Deposit <strong>funds<\/strong> via credit card, bank transfer, or crypto transfer.<\/li>\n\n\n\n<li>Access the market and look for the <strong>BTC\/USDT<\/strong> pair.<\/li>\n\n\n\n<li>Complete the purchase and find the <strong>BTC tokens<\/strong> in your account.<\/li>\n<\/ol>\n\n\n\n<p>Before any investment, it is always recommended to stay informed about the market conditions and the <strong>risks involved<\/strong>. Above all, never invest more than you can afford to lose.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.weex.com\/newbieActivities?id=520&amp;type=BEGINNER_TASK&amp;vipCode=ku3x\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Earn 50 USDT in a few clicks !<\/a><\/div>\n<\/div>\n\n\n\n<p><strong>More on this topic :<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/preprod.investx.fr\/en\/crypto-news\/trumps-tariffs-shaping-crypto-market\/\">How Trump\u2019s Tariffs Are Shaping the Crypto Market<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/preprod.investx.fr\/en\/crypto-news\/trump-token-unlock-approaching-market-crash\/\">Countdown to the First TRUMP Token Unlock : Will It Trigger a Market Crash ?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/preprod.investx.fr\/en\/crypto-news\/circle-usdc-stablecoin-issuer-stock-market-debut\/\">Circle, USDC Stablecoin Issuer, Readies for Stock Market Debut !<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Bybit rocked by one of the largest crypto hacks in history! Following a staggering loss of $1.5 billion, the exchange makes a bold move: discontinuing its NFT and IDO services. Is this announcement signaling the end of an era for Bybit or a strategic pivot in the making?<\/p>\n","protected":false},"author":38,"featured_media":2128,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_focuskw":"bybit","_yoast_wpseo_title":"Bybit Faces Massive Hack : Are NFTs and IDOs Facing Their End ?","_yoast_wpseo_metadesc":"Bybit halts NFT and IDO services post massive $1.5 billion hack. Is the platform's future in jeopardy? Find out here!","footnotes":"","faq_titre":"","questions_frequentes":"","custom_permalink":""},"categories":[15,10],"tags":[],"class_list":["post-2135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchanges","category-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bybit Faces Massive Hack : Are NFTs and IDOs Facing Their End ?<\/title>\n<meta name=\"description\" content=\"Bybit halts NFT and IDO services post massive $1.5 billion hack. Is the platform&#039;s future in jeopardy? 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Is the platform's future in jeopardy? 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