Bybit’s Strategic Move: Acquiring South Korea’s Korbit to Strengthen Market Position

Bybit, the world's second-largest cryptocurrency exchange, is making significant strides in expanding its market presence by pursuing the acquisition of Korbit, South Korea's fourth-largest digital asset platform. This strategic move highlights the intensifying competition for dominance in Asia's lucrative cryptocurrency markets and underscores South Korea's pivotal role as the world's second-largest virtual asset hub. The negotiations, currently focused on acquiring SK Planet's 31.5% stake in Korbit, with Nexon parent NXC controlling the remaining shares, signal Bybit's commitment to strengthening its foothold in the region. This development not only reflects the growing consolidation in the crypto exchange sector but also showcases Bybit's ambition to leverage South Korea's robust crypto ecosystem for future growth. As of November 2025, this potential acquisition could reshape the competitive landscape of the Asian cryptocurrency market, positioning Bybit as a formidable player against other leading exchanges.

Bybit Pursues Acquisition of South Korea's Korbit in Strategic Market Expansion

Bybit, the world's second-largest cryptocurrency exchange, is advancing talks to acquire Korbit, South Korea's fourth-largest digital asset platform. The move underscores intensifying competition for Asia's lucrative crypto markets and highlights Korea's status as the world's second-largest virtual asset hub.

Negotiations initially focus on SK Planet's 31.5% stake in Korbit, with Nexon parent NXC controlling the majority 60.5%. Market observers note this potential acquisition continues the trend of foreign exchanges entering Korea through M&A rather than organic growth.

The deal WOULD grant Bybit immediate access to Korea's sophisticated retail trading ecosystem through an established, regulated platform. Since its 2018 founding, the Singapore-based exchange has aggressively expanded beyond derivatives trading into spot markets and institutional services.

Bybit Report Reveals Fund-Freezing Capabilities in Major Blockchains

Bybit's Lazarus Security Lab has uncovered that 16 blockchain networks possess built-in fund-freezing functionalities, with 19 others capable of enabling such features through minor technical adjustments. The findings challenge the Core principle of decentralization in blockchain ecosystems.

The study, employing AI-assisted code analysis and manual verification, identified three primary intervention mechanisms: hardcoded logic, configuration-based control, and on-chain contract execution. Networks like BNB Chain, VeChain, Sui, Aptos, and HECO employ distinct technical approaches to asset restriction and recovery.

This revelation intensifies the ongoing debate about the balance between security intervention and decentralized governance in blockchain systems. The report calls for greater transparency regarding these built-in intervention capabilities across blockchain platforms.