Bybit has unexpectedly begun allowing user registration and authentication for Chinese users, a significant shift from its previous policy prohibiting such actions. This move comes amid a cautious competitive landscape where other exchanges have already opened their doors to Chinese clients, leading to concern among Bybit’s employees.

Bybit, a major offshore exchange, has started allowing registrations from Chinese users, a significant policy change given its previous restrictions. This move follows competitors who have already opened to the Chinese market, causing concern among Bybit's staff. Other updates include Binance layoffs and regulatory changes in Hong Kong.

Nearly 28% of the $1.4 billion stolen from Bybit has become untraceable, according to CEO Ben Zhou. The funds have been funneled through mixers and decentralized platforms, complicating recovery efforts. Zhou urged bounty hunters to assist in freezing stolen assets, with some success reported.