The stolen funds have been covered by operating revenue, Bybit CEO says the golden era of global trading platform expansion is over

Odaily report: Bybit CEO Ben Zhou stated that Bybit had already covered the losses caused by the previous North Korean hacker attack through operating revenue such as trading fees by the end of last year. He believes that trading platforms will continue to suffer hacker attacks in the future, and security systems should be designed on the premise of "assuming a breach will definitely happen." Ben Zhou said that the golden period of expansion for global trading platforms has passed, and the industry will undergo further consolidation in the future, while regional trading platforms with licenses and local operating capabilities still have development opportunities. Bybit's profit declined year-over-year this year, and its traditional asset trading business such as stocks is currently not enough to offset the impact of its crypto business; over the next year, its core strategy will focus on regional development and deep localization, while continuing to evaluate opportunities to cooperate with local U.S. institutions that have retail user bases.