Bybit Background Check Report
Summary
Bybit is a major offshore crypto exchange founded in 2018, now headquartered in Dubai. It has meaningful scale, broad derivatives liquidity, and a VARA VASP license in Dubai, but its profile also includes regulatory exits and warnings, opaque ownership, a grey-zone policy for mainland Chinese users, a major FTX/Mirana settlement, and the largest crypto-exchange hack on record in February 2025. The overall risk score is 6/10.