Bybit earns MiCA license as hackers keep $644M from its $1.4B exploit out of reach

Description

Crypto exchange Bybit has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework from Austria’s Financial Market Authority (FMA), according to a statement issued on May 29.

Authors

Oluwapelumi Adejumo

Publish date

May 29, 2025

Publisher

CryptoSlate

Web URL

https://cryptoslate.com/bybit-earns-mica-license-as-hackers-keep-644-million-from-its-1-4-billion-exploit-out-of-reach

Referenced by

While the license strengthens Bybit’s position in Europe, the exchange is still grappling with the fallout of a massive February security breach that resulted in $1.4 billion in losses.

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Crypto exchange Bybit has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework from Austria’s Financial Market Authority (FMA), according to a statement issued on May 29.

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Bybit plans to make Austria the hub of its European operations. The exchange will establish a permanent headquarters in Vienna and recruit over 100 local professionals.

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