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

Crypto exchange Bybit has obtained regulatory approval under the MiCA framework from Austria’s FMA, enabling it to offer digital asset services across the EEA. Bybit plans to establish its European headquarters in Vienna and comply with consumer protection and anti-money laundering rules. The company is also pursuing licenses in other jurisdictions. Despite the approval, Bybit is still dealing with the aftermath of a security breach in February that resulted in $1.4 billion in losses. Through investigations, $693 million of stolen funds has been traced and $62.9 million frozen. Bybit has awarded bounties to individuals and groups involved in the investigation.