Bybit Pulls the Plug on NFT and Inscription Marketplaces After Massive Hack

Crypto Giant Shuts Down Amid Recovery Efforts

Holy smokes, folks! Bybit, that massive crypto exchange, just dropped a bombshell—they're shutting down their NFT and Inscription marketplaces, not to mention their IDO products! Can you believe it?

Just weeks after getting slammed with a mind-boggling $1.5 billion theft—the biggest heist the crypto world has ever seen—Bybit is now pulling back support for their non-fungible tokens and those Bitcoin-based NFTs they call inscriptions. Talk about a rollercoaster ride!

In a jaw-dropping announcement on their official site on April 1, Bybit spilled the beans, saying they're ditching these operations to "streamline our offerings." But let's be real, the timing's got everyone scratching their heads.

While the exact reason's still a mystery, this move comes hot on the heels of that brutal security breach in late February. North Korean hackers made off with a cool $1.46 billion from Bybit. CEO Ben Zhou's been on the case, trying to track down the stolen loot, but some of it's vanished into thin air thanks to those sneaky mixing services.

Bybit's latest announcement hit like a ton of bricks—they're cutting off support for NFT platforms on April 8, and after that, you won't be able to access those product pages. They're urging users to get their assets in order before the deadline hits.

And if you're into IDOs, Bybit's got some advice for you: move those airdropped tokens from the Bybit Web3 Cloud Wallet to a web3 seed phrase wallet or a private key wallet, pronto. It's been a wild ride, and Bybit's not the only one feeling the heat—another NFT marketplace, X2Y2, also threw in the towel, blaming it on the drop in trading volume.