Bybit’s Great NFT retiré: A Crisis of Marketplaces
In an epic turn of events that could only be scripted by the gods of crypto themselves, the good folks over at Bybit have decided to call it quits on their NFT and Inscription marketplaces, along with their IDO services. 🎉’
Who would’ve thought that just after losing nearly $1.5 billion in what felt like the biggest crypto heist since the days of Robin Hood, Bybit would find themselves in the mood for a bit of market pruning? It’s like deciding to close the bakery right after the mice have eaten all the flour.
On their official website, which must have been updated in a fit of caffeine and crisis management, Bybit announced on April 1st (no fooling, apparently) that they are discontinuing these services due to “efforts to streamline our offerings.” One can only imagine the streamlining involves a lot of paper clips and hopeful glances at the nearest ATM.
The real kicker? All this comes on the heels of a colossal security breach in late February, where Bybit became the unwitting host to a cyber heist that saw North Korean hackers make off with around $1.46 billion worth of crypto. CEO Ben Zhou, ever the optimist, reassured the crypto community that they’re still hot on the trail of the stolen funds. However, it’s a bit like trying to follow a thief who’s disappeared into a series of untraceable back alleys, thanks to some nifty mixing services. 🕵️♂️
As of April 8th, Bybit will officially bid adieu to their NFT and Inscription marketplaces. Users are advised to get their digital ducks in a row and manage their assets before the final curtain falls. It’s a bit like a digital garage sale, but with more pixels and less actual furniture.
For those who have played the IDO game, Bybit suggested a strategic retreat: transfer your airdropped tokens from the Bybit Web3 Cloud Wallet to a trusty web3 seed phrase wallet or a private key wallet. It’s the crypto equivalent of getting your money out of a burning building and into a fireproof safe. 🔐
And if you thought Bybit was alone in this digital exodus, think again. X2Y2, another NFT marketplace, also decided to throw in the towel, citing declining trading volume. It seems the NFT party might be winding down, at least for now. 🎶
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2025-04-01 15:36