Bybit to Shut Down Its NFT Marketplace
Date: 2025-04-03 Author: Henry Casey Categories: BUSINESS
The platform's users are advised to withdraw their assets before the specified date. In addition, Bybit is also shutting down the Inscription Marketplace and IDO, which is explained by the company's desire to optimize its services and focus on core business areas.
The decline in NFT trading volume was one of the reasons for this decision - this figure has fallen by 90% since the peak of 2021.
It is worth noting that on February 21, Bybit was subjected to a large-scale hacker attack, as a result of which about $1.46 billion was stolen. The FBI said that the North Korean group Lazarus Group, known for its cybercrime in the crypto industry, was behind the attack.
In addition, a similar announcement about the closure of work was recently made by the X2Y2 platform, which completely closed its operations on March 31.
