On May 29, 2025, Bybit crypto exchange announced it has received regulatory approval under the European Union's Markets in Crypto-Assets (MiCA) framework from Austria's Financial Market Authority (FMA). This license enables Bybit to provide digital asset services across all 30 European Economic Area (EEA) countries.
Bybit plans to establish its European hub in Austria, with a permanent headquarters in Vienna and intentions to recruit over 100 local professionals. The company views the MiCA registration as a crucial step toward aligning with Europe's strict standards for consumer protection, transparency, and anti-money laundering.
While expanding in Europe, Bybit continues to address the aftermath of a significant security breach in February, which resulted in $1.4 billion in losses. Approximately $644 million, or 46% of the stolen assets, remains untraceable, despite efforts to recover the funds.
The exchange reports that $693 million of the stolen funds are traceable, and $62.9 million has been frozen. Bybit has also distributed $2.3 million in bounties to 13 individuals and groups for their assistance in tracking the stolen funds.
Mazurka Zeng, head of Bybit Europe, mentioned the launch of educational initiatives through the Blockchain for Good Alliance. Bybit joins other registered platforms like Kraken, OKX, and Crypto.com under MiCA.
Bybit's CEO, Ben Zhou, stated the company is actively seeking licenses globally to ensure regulatory compliance. Investigations revealed that the attackers used advanced obfuscation tools such as Wasabi Wallet, Tornado Cash, Railgun, and CryptoMixer to cover their tracks. The bulk of the laundered funds, around $247 million, passed through Wasabi Wallet, while $94 million flowed through CryptoMixer.
This initiative will support blockchain research and development in collaboration with universities.