Bybit Partners with Vietnam for Groundbreaking Crypto Trading Pilot

Vietnam’s Ministry of Justice and central bank are collaborating with Bybit, a leading global cryptocurrency exchange, to launch a pioneering crypto trading pilot program. This initiative aims to develop a robust legal framework for digital assets, leveraging Bybit’s technological expertise and compliance infrastructure. The pilot includes a sandbox mechanism to test crypto asset issuance under regulatory supervision, signaling Vietnam’s progressive approach to blockchain innovation. Analysts suggest this partnership could position Vietnam as an emerging hub for regulated crypto activity in Southeast Asia.

Vietnam’s Crypto Trading Pilot with Bybit Signals Market Surge Potential

Vietnam’s Ministry of Justice and central bank are launching a crypto trading pilot supported by Bybit, one of the world’s top exchanges. The collaboration aims to establish a comprehensive legal framework for crypto assets, with a pilot sandbox mechanism allowing regulators to test the issuance of crypto assets. Bybit is providing the tech stack and compliance safety net for the pilot, following a recent meetup between Bybit’s CEO and Vietnam’s Ministry of Finance.

Over $380M Worth of Crypto Stolen in Bybit Hack Goes Dark

Cryptocurrency exchange Bybit was hacked for $1.4 billion by the North Korean Lazarus Group. According to Bybit’s CEO Ben Zhou, 27.95% of the stolen funds have gone dark or become untraceable. These funds were primarily moved into crypto mixers like Wasabi, then transferred through bridges to P2P and OTC platforms. Approximately 68.57% of the hacked funds remain traceable, while 3.84% have been frozen. ETH was the primary cryptocurrency affected in the hack.