Bybit, a prominent cryptocurrency exchange, has successfully recovered its market share to 7% post a $1.4 billion hack in February. The exchange has enhanced its security measures and liquidity options for retail traders, resulting in a resurgence in market share. On February 21, Bybit experienced its largest hack in history, losing over $1.4 billion in various digital assets. Despite the significant setback, Bybit has managed to bounce back, as reported by crypto analytics firm Block Scholes on April 9. The report highlighted that Bybit’s market share has increased from a post-hack low of 4% to around 7%, showcasing a robust recovery in trading volumes and spot market activity. The hackers took 10 days to launder the stolen funds through the THORChain protocol, with 89% of the stolen amount being traceable by blockchain analytics experts. Security firms suspect North Korea’s Lazarus Group to be behind the exploit, engaging in fund swaps to obscure the trail. The slowdown in North Korean cyber activities following a summit with Russia in July 2024 was noted, indicating a shift in resources towards the conflict in Ukraine. The incident underscores the vulnerability of centralized exchanges to sophisticated cyberattacks, as seen in other notable hacks like WazirX and Radiant Capital. Analysts warn of the increasing risks posed by such attacks on exchanges with robust security measures.