Why is Bybit illegal?

I've heard that Bybit is an illegal cryptocurrency exchange. Why is that the case?" "I'm a bit confused. I've seen Bybit advertised everywhere and it seems to have a lot of users. How can it be illegal?" "I understand that cryptocurrencies can be a bit of a grey area, but what specifically makes Bybit illegal?" "I'm interested in trading cryptocurrencies, but I don't want to get involved with anything illegal. Can you explain why Bybit is considered illegal?" "I've read some conflicting reports about Bybit's legality. Can you clarify the situation for me?