What Bybit is
Founded in 2018 by Ben Zhou, still CEO and head of the company, Bybit is one of the world's leading cryptocurrency exchanges, grown on derivatives (perpetual futures) and over the years turned into a complete platform: spot, derivatives, earn products and institutional services. Its global headquarters has been in Dubai (United Arab Emirates) since 2022 and since 2025 the group has served users in the European Economic Area through the regulated entity Bybit EU GmbH, based in Vienna. In 2025 it went through the hardest test in its history, the largest cryptocurrency theft ever recorded, coming out of it with customers fully reimbursed. (Verified: September 2026)
Regulation and licences
- MiCA: YES — CASP authorisation for Bybit EU GmbH by decision of the Austrian FMA of 28/05/2025 (under art. 63 MiCAR), valid through passporting in the countries of the European Economic Area; European headquarters in Vienna, with a local hiring plan (more than 100 people announced). (Verified: September 2026)
- Added to the MiCA licence is an Austrian authorisation as an electronic money institution (EMI) for payment services in Europe. (Verified: September 2026)
- Transparency note: Bybit itself has pointed out that MiCA does not cover derivatives, for which additional MiFID licences are required — useful to know for anyone looking for perpetuals in the EU.
- Bybit can operate legally even after the expiry of the transitional regime (01/07/2026).
Security
In February 2025 Bybit suffered the largest hack in crypto history: around 1.4-1.5 billion dollars in ETH taken from a cold wallet during a transfer, an attack attributed to the North Korean Lazarus group. The response is considered a textbook case: withdrawals never suspended, losses covered in full by the company (including with bridge loans since repaid), solvency demonstrated with public proof of reserves. No customer lost funds. (Verified: September 2026)
Alternatives
- Kraken — full MiCA via the Central Bank of Ireland, derivatives with a MiFID licence
- Crypto.com — MiCA via Malta, app+card ecosystem
- Bitstamp — MiCA via Luxembourg, today part of Robinhood
FAQ
- Is Bybit legal in the EU? Yes: it operates through Bybit EU GmbH with an Austrian MiCA licence (FMA, 28 May 2025), valid across the entire European Economic Area even after the July 2026 tightening.
- Did the 2025 hack affect customers? No: all withdrawals were honoured and the losses (~1.4-1.5 billion dollars) covered by the company. The attack is attributed to the Lazarus group.
- Where is Bybit based? Its global headquarters is in Dubai; the European headquarters, from which the MiCA-licensed entity operates, is in Vienna.
Verified sources
- https://www.fma.gv.at/en/granting-of-authorisation-bybit-eu-gmbh/
- https://www.coindesk.com/policy/2025/05/29/crypto-exchange-bybit-granted-european-mica-lic
- https://www.fintechweekly.com/magazine/articles/bybit-micar-license-austria-european-headq
- https://learn.bybit.com/en/regulations/bybit-europe-eu-and-micar
TEAM MEMBERS
LEADERSHIP
HQ OF BYBIT
40A Orchard Rd, Singapore 238838
CONTACTS OF BYBIT
All images, branding and wording are copyright ByBit. All content on this page is used for informational purposes only. Spaziocrypto has no affiliation or relationship with the company mentioned on this page.
