Bybit’s CEO refutes allegations of hacking and insolvency amidst social media frenzy.

The AMF has highlighted the fact that ByBit does not possess a Digital Asset Service Provider (DASP) license in France. As a result, investors are strongly advised to take measures to safeguard their assets that have been invested on the platform. In a similar vein, the AMF had previously cautioned against the Bitget cryptocurrency exchange due to comparable concerns, citing its inclusion on the blacklist in November 2023. ByBit has also been subjected to further scrutiny, as the Securities and Futures Commission (SFC) in Hong Kong classified it as a “suspicious” crypto exchange in March, identifying certain investment products offered by the platform as suspicious.