Bybit Reports $17.3 Billion In Reserves
Key Summary
Bybit published its 41st Proof-of-Reserves audit verifying $17.3B in mainstream asset backing, coinciding with massive capital inflows as rival venues absorbed displaced trading volume following external security disruptions.
Key Bullets
- Bybit published its 41st Proof-of-Reserves audit verifying $17.3B in mainstream asset backing.
- HACKEN independently validated user balances and exchange liabilities across 50 distinct digital assets.
- Bybit experienced a 142% increase in Ethereum depositing addresses and attracted $239M in stablecoin inflows.
- OKX absorbed $432M in Ethereum stablecoin deposits and $528M in TRON inflows during the market shift.
Bybit Publishes 41st Reserve Audit
Bybit reported $17.3B in mainstream asset backing according to its latest audit filing released from Dubai. The 41st Proof-of-Reserves report tracks user liability balances across 50 distinct digital assets with independent verification from HACKEN. Liquidity remained fully backed across all primary holdings including USDT, USDC, BTC, and ETH. Exchange operators published the updated verification records directly to public-facing documentation portals following snapshot execution.
Independent security firm HACKEN completed the cryptographic validation of user balances and exchange liabilities as of October 27, 2026. Auditors confirmed that total platform reserves outpace customer obligations across every tracked token category. Digital asset exchanges face intensifying demands for on-chain solvency transparency following historical contagion events. Bybit maintains regular audit cycles to reassure institutional and retail traders holding capital on the order books.
Rival Exchanges Capture Massive Inflows
Bybit and Bitget recorded sharp surges in deposit activity as Binance suspended platform withdrawals for nearly three days following an exploit. Blockchain analytics firm Bitquery confirmed that deposit addresses on competing networks more than doubled during the interruption. Bybit experienced a 142% increase in Ethereum depositing addresses to reach 31,539 active accounts between October 29 and November 1. The exchange pulled in $239M in Ethereum stablecoin deposits while TRON depositing addresses climbed 71% to reach 68,192.
Bitget mirrored that competitive momentum on the TRON network with a 130% jump in depositing addresses to 10,274. USDT inflows on Bitget rose to $87M from $66M during the comparable seven-day window. OKX absorbed an even larger share of migrating funds by recording $432M in Ethereum stablecoin deposits alongside $528M in TRON inflows. That figure represented nearly triple the amount collected during the previous week as traders scrambled for alternative execution venues.
Binance Outflow Operations Collapse Completely
Outgoing transactions across 206 labeled Binance wallets on five blockchains plummeted 99.8% during the security interruption. Bitquery data showed transfers falling from approximately 1.19 million transactions in a normal 54-hour period to just 2,248 successful transactions. The abrupt halt choked off a primary liquidity source for digital asset trading desks. Trading desks monitor reserve attestations closely to gauge counterparty risk on centralized venues while capital moves dynamically across the sector.
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