Bybit Bounces Back from Epic $1.6 Billion Hack, Thanks to Retail Investors!

Holy crypto comeback, Batman! Bybit, the exchange that got slammed with the biggest hack in crypto history, is clawing its way back to glory—and guess who's helping? That's right, the everyday retail investor!

Bybit took a brutal hit, losing a mind-blowing $1.6 billion in what's now known as the mother of all crypto hacks. But according to a deep dive by the brainiacs at Block Scholes, commissioned by Bybit themselves, the exchange is staging a comeback that's nothing short of epic.

After the hack, Bybit's market share plummeted from a solid 10% in January 2025 to a measly 4%. But hold onto your hats, folks, because within weeks, they roared back to a respectable 7%. And that's not all—trading volumes and order book depth, which is just a fancy way of saying how many orders are waiting at different price points, snapped back into shape faster than you can say "blockchain."

"Sure, the hack threw a wrench in the works, especially in the BTC and ETH markets, but the bid-ask spreads across major tokens? They barely flinched," the report boasted.

Now, for those not in the know, the bid-ask spread is the gap between what sellers want and what buyers are willing to pay. On Bybit, it stayed tighter than a drum, even as volumes dipped. This tells us that the market makers, those unsung heroes of the trading world, kept the market humming along smoothly, even in the chaos.

Bybit's Retail Focus: The Secret Sauce to Recovery

But here's the real kicker: Bybit's recovery isn't just about numbers and charts. It's about giving power back to the people. Enter Retail Price Improvement (RPI) orders, a game-changer available only to retail traders on the app. No institutions, no bots—just you, the individual investor, getting a fair shot at the market.

And boy, did it work! Bybit's 3-stall liquidity, a fancy term for how much action is happening near the market price, was off the charts for RPI orders compared to the regular stuff. This kept the spreads tight for the little guys and gals trading manually.

According to the report, RPI orders were the unsung heroes that helped stabilize liquidity, marking the first bold step in Bybit's mission to reclaim its spot in the wild world of crypto trading.