Cryptocurrency exchange Bybit announced that their AI-powered on-chain monitoring system has helped tens of thousands of users recover more than $300 million in lost assets. According to the announcement, the platform also successfully prevented over 3 million credential stuffing attacks—an account hijacking method that exploits leaked login data.
Bybit emphasized increased investment in security technology to combat increasingly sophisticated fraud models in the cryptocurrency space. Additionally, the exchange is collaborating with blockchain analysis firms including TRM Labs, Elliptic, and Chainalysis to share data, expand monitoring networks, and trace scam activities across the ecosystem. This move is expected to enhance the overall cybersecurity defenses of the market against cyber threats.
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