In this post:
- Bybit has introduced a dedicated VIP portal for reporting stolen funds, which is available to VIP clients.
- Cases of suspected theft will be reviewed internally within 2-4 hours by Bybits Lazarus Security Lab.
- The crypto exchange has confirmed that the new tool prioritizes evidence preservation for law enforcement filings.
Bybit has introduced a dedicated VIP portal for reporting stolen funds, which is now available to VIP clients. According to the exchange’s press release, the tool prioritizes evidence preservation for law enforcement filings.
The crypto exchange platform released the reporting tool, aiming to streamline the process of flagging stolen funds. The release will enhance user protection and bolster Bybit’s risk control frameworks amid heightened scrutiny of digital asset platforms.
Bybit looks to strengthen risk controls with the stolen funds reporting portal
The newly unveiled Report Stolen Funds portal is available directly through Bybit’s website. It offers VIP clients a secure platform for submitting cases of stolen funds. The system has been designed to route reported cases directly to Bybit’s Lazarus Security Lab, a dedicated 24/7 security team tasked with reviewing the cases within 2-4 hours.
According to Bybit’s press release, the tool is specifically designed for intended inflow cases, meaning instances involving stolen assets suspected to have been transferred to Bybit from external financial platforms. The firm insisted that the intervention is discretionary and not a way to replace the legal process required to recover stolen assets. Victims are still expected to file official reports with law enforcement in the event of stolen funds and to obtain freezing orders. The exchange also insisted that it will fully comply with law enforcement.
“Our priority is to ensure that our VIP clients have fast and direct access to trusted tools when they need them most. This service focuses on stolen fund inflows, giving us the ability to act quickly to secure evidence while clients prepare their law enforcement filings. It represents both our responsibility to our clients and our duty to regulators and the wider ecosystem.”
- David Zong, Bybit’s Head of Group Risk Control and Security
The Report Stolen Funds portal allows clients to provide critical details such as the type of stolen asset, relevant transaction information, and the suspected hacker’s address. Internal review teams also prioritize the reports even before they are taken to external law enforcement for further escalation. Bybit revealed that it may also place temporary internal restrictions on suspected accounts to prevent further movements of funds, clarifying that such measures are not substitutes for enforceable legal actions.
Bybit considers retail access to the stolen fund reporting portal in the future
The service is only available for VIP clients now, but the exchange platform is exploring ways to expand to retail clients in the future. The Dubai exchange revealed that the initiative is part of its long-term commitment to transparency, accountability, and alignment with global regulatory expectations.
Bybit also highlighted that the portal can be accessed across multiple touchpoints, including the Help Center, Customer Support portals, and the Bybit Authenticity Check page. This multichannel availability is aimed at making the reporting process easily accessible and straightforward for users who need urgent assistance.
According to CoinMarketCap data, Bybit is ranked second in the crypto exchange by trading volume, with $5,021,437,477.49 over the past 24 hours, just below Binance. The latest release follows a recent reentry into the Indian market after securing approval from the country’s Financial Intelligence Unit (FIU). According to a cryptopolitan report, India had forced Bybit, among other offshore exchanges, to scale back their services pending regulatory approvals. Bybit’s CEO Ben Zhou described the return as a new chapter and revealed how India is a promising digital asset hub.
