Bybit resumes operations in India after regulatory approval

Bybit has resumed its trading services in India after securing the necessary registration with Indian authorities, the exchange confirmed on 25 February. The move restores full access to Bybit’s platform for existing users and allows new users to gradually join the platform. The exchange had suspended several services in January due to regulatory challenges while awaiting approval from India’s Financial Intelligence Unit.

With the regulatory requirements now met, Indian users can open new trades and access all of Bybit’s platform features. This return to the Indian market comes at a time when other major exchanges, like Binance, are also vying for market share despite ongoing regulatory scrutiny. The country remains a key focus for crypto firms due to its increasing adoption and trading volumes.

However, Bybit’s recovery comes amidst a challenging period for the platform, following a massive security breach on 21 February. The $1.5 billion hack, the largest crypto heist in history, targeted Bybit’s Ethereum cold wallet. Blockchain analysts have linked the breach to North Korea’s Lazarus Group, known for its previous high-profile cybercrimes, including the Ronin and WazirX hacks.

The Lazarus Group has been involved in laundering stolen assets through decentralised protocols. North Korean hackers have already exceeded $1.34 billion in crypto thefts in 2024, and the figure continues to grow in 2025, posing a serious threat to the crypto sector.

For more information on these topics, visit diplomacy.edu.