برچسب: Bybit

Bybit Pay Now Lets Filipinos Use Crypto with QR Ph Payments
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Crypto enthusiasts from the Philippines and Vietnam can now use Bybit Pay, a crypto payment service by the international cryptocurrency exchange that allows users to shop at supported merchants, including mobile top-ups, using the 16 available cryptocurrencies through QR code payments.

To celebrate the launch, those who use the feature can earn $BTC cashback airdrops, according to Bybit.

Bybit Pay Can Now Read QR Ph

In a statement, Bybit confirmed that the feature is fully integrated with the QR Ph national standard, allowing users to scan QR codes and make payments on the Bybit Pay interface at participating merchants, including those under AEON Pay.

AEON, a partner in the launch, provides QR payment acceptance across a wide merchant network, especially in urban areas.

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Aside from its launch in the Philippines with QR Ph integration, Bybit has also rolled out Bybit Pay in Vietnam, supporting the country’s VietQR.

Earlier this year, in January, the crypto exchange introduced Bybit Card QR Pay in Brazil, integrating with the country’s Pix payment system, which enables real-time transfers and offers lower transaction fees.

How it Works

Transactions through Bybit Pay follow a streamlined, QR-based process aligned with the QR Ph standard:

Step 1: Users scan a merchant’s QR Ph code using the Bybit Pay app.

Step 2: The app generates a unique payment QR code for the user to approve the crypto transaction.

Step 3: The merchant scans the approved QR code, completing the payment instantly.

$BTC Cashback Airdrop

As part of its Southeast Asia rollout, Bybit also announced that Bybit Pay is offering $BTC cashback airdrops for users in the Philippines and Vietnam who pay using QR Ph or VietQR codes.

Running until June 30, 2025, at 6:00 p.m., PH time, the promo rewards users who spend at least $5 per day with $1 worth of $BTC per eligible transaction.

How to Join:

Step 1: Register for the promo on the Bybit platform.

Step 2: Open the Bybit app and scan QR Ph (Philippines) or VietQR (Vietnam) codes at participating stores.

Step 3: Spend at least $5 (or local equivalent) on eligible purchases.

Step 4: Claim your BTC rewards through the event page.

The promo applies to daily spending across everyday categories like food, drinks, and fashion, with participating merchants including UNIQLO.

Transactions are fee-free, with QR payments made through Bybit Pay processed instantly.

What is Bybit Pay?

According to its website, Bybit Pay supports both online and in-store transactions and integrates with national QR code payment systems.

It also allows users to transfer crypto to other users with zero fees.

Key features include:
- QR code-based payments for seamless checkout at retail merchants.
- Multi-currency support, including $BTC, $ETH, $USDT, and fiat like BRL.
- Instant payment processing with no transaction fees during promos.
- Integration with AEON Pay for wide retail coverage.
- Secure blockchain encryption for private, tamper-proof transactions.
- Available globally to verified users, except in restricted countries.
This article is published on BitPinas: Bybit Pay Now Lets Filipinos Use Crypto with QR Ph Payments

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ژوئن 25, 2025
Lazarus Group’s $1B Crypto Trail Tracked By Bybit

The CEO of Bybit, Ben Zhou, has disclosed that over two-thirds of the $1.4 billion seized in a February network attack have remained observable as the exchange increases efforts to reclaim the funds.

In a post on X, Zhou notified the community that almost 70% of the seized funds “stay detectable.” He disclosed that 27.6% of the funds have vanished from sight, and at the same time, 3.8% have been locked. The undetectable part of the seized funds mostly goes through mixing services before being transferred to peer-to-peer (P2P) networks and over-the-counter (OTC) platforms using cross-chain bridges.

4.21.25 Executive Summary on Hacked Funds:
Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms.
Recently, we have…

— Ben Zhou (@benbybit) April 21, 2025

In recent times, we have noticed that the mixer commonly used by the DPRK (Democratic People’s Republic of Korea) is Wasabi. After a specific amount of BTC was passed through Wasabi, a little part of it joined CryptoMixer, Tornado Cash and Railgun, Zhou wrote. “Then, several cross-chain and swap services were done using platforms like Thorchain, eXch, Lombard, LiFi, Stargate, and SunSwap,” he added.

Zhou explained that 944 Bitcoin, worth around $90 million, crossed through the Wasabi mixer. The seized assets then passed through various cross-chain platforms, including THORChain, eXch, Lombard, and LI.FI, Stargate, and SunSwap, before being transferred into P2P and OTC.

According to Zhou, around 84% of the seized assets, amounting to 432,748 Ether and worth around $1.21 billion, have been transferred from Ethereum to Bitcoin across THORChain. Out of that total, about two-thirds, around $960 million, was turned into 10,003 BTC and spread across 35,772 wallets. Zhou also mentioned that about $17 million in Ether is still on the Ethereum blockchain, stored in 12,490 wallets.

In the previous two months, Bybit has obtained 5,443 reward feedback following the announcement of its Lazarus reward program, intended to monitor the assets seized by the North Korean-linked Lazarus Group. Out of these submissions, 70 were considered valid.

Bybit introduced its bounty program in February, committing up to $140 million in rewards for details that may result in the freezing of seized assets. Up until now, the exchange has paid $2.3 million for 12 successful claims, with the most significant payout going to the Mantle layer-2 platform, which helped freeze $42 million in assets related to the breach.

Zhou said, “We encourage additional reports; we are looking for additional bounty hunters that can break down mixers because we will need a lot of help later on.

Read also:- JASMY Price Predication: Can JasmyCoin Clear This Resistance to Trigger a 97% Rally?

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

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آوریل 22, 2025
Vietnam Launches Crypto Trading Pilot with Bybit to Regulate Boomi…

YEREVAN (CoinChapter.com) — Vietnam’s Ministry of Finance has partnered with cryptocurrency exchange Bybit to test a regulated digital asset trading platform. The initiative introduces a sandbox model to study market behavior, compliance, and infrastructure within a controlled setting.

On April 17, Finance Minister Nguyen Van Thang met with Bybit CEO Ben Zhou in Hanoi. According to the official press release, Zhou confirmed that Bybit would assist with technical implementation, including transaction monitoring and anti-money laundering controls.

Vietnam Bybit Crypto Partnership Meeting. Source: PR Newswire

The pilot does not name any specific cryptocurrencies yet, but Bybit’s core offerings include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), making them likely candidates.

Regulatory Draft Expected in May

The Finance Ministry plans to submit a draft resolution outlining the pilot’s operational model in early May. The document will define oversight mechanisms and criteria for evaluating the sandbox’s performance.

Vietnam has previously studied digital asset frameworks in regions such as the UAE and Singapore. This pilot is the country’s first move toward applying those insights to a live trading setting.

Data collected during the trial will inform broader legislation. The aim is to test real-time compliance, user behavior, and risk protocols.

Vietnam’s Crypto Adoption Rate Among Highest Globally

Vietnam ranks fifth worldwide in cryptocurrency ownership. Reports from Chainalysis and Triple A estimate over 17 million residents hold digital assets.

Vietnam Ranks 5th in Global Crypto Adoption. Source: Chainalysis 2024

Factors behind this high adoption include limited banking access and a growing population of tech users. Until now, activity in the crypto space has operated without official regulation, leaving users exposed to unvetted platforms and scams.

This pilot aims to bring oversight to that market by building legal pathways for compliant platforms.

Bybit Provides Technology and Compliance Support

Bybit will supply core systems and advisory input to support platform infrastructure and governance. The exchange will also help design identity verification processes to align with Vietnam’s financial standards.

Ben Zhou confirmed Bybit’s intent to work directly with government agencies. The company currently holds regulatory status in Dubai and Kazakhstan.

Vietnam’s choice to collaborate with an international exchange reflects its strategy to draw on external expertise while shaping localized oversight.

The sandbox format allows regulators to observe activity before writing permanent laws. It also lets participants trial new services without the constraints of full licensing.

Several countries have used this approach to build crypto legislation incrementally. Vietnam will apply the same model to gather empirical data and define best practices tailored to its own financial system.

Officials will monitor trading activity, system integrity, and operational risks under defined limits to ensure market safety.

The pilot exchange may increase investor interest by offering a monitored, legal environment. It also signals Vietnam’s intent to participate in global financial technology shifts without delay.

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آوریل 21, 2025
Mantra Crash Fallout: Binance, OKX, and Bybit Address Price Drop and Insider Allegations

After the crash of $OM, the native token of Mantra, a blockchain for real-world asset (RWA) tokenization, three international centralized crypto exchanges (CEXs) have issued statements on the issue.

Short Background on the $OM Crash

On April 14, 2025, Philippine time, $OM’s fiat value dropped by more than 90 percent within 24 hours, falling from approximately $6.30 to below $0.50, erasing nearly $6 billion from its market capitalization.

According to Mantra co-founder John Mullin, the price drop was due to a “massive forced liquidation” on an undisclosed exchange. Meanwhile, the blockchain’s community lead, Dustin McDaniel, cited “reckless liquidations” as the cause of the collapse.

But the explanation from the Mantra team did not convince the community, as posts on X alleged that the Mantra team or insiders sold off a large portion of the token’s circulating supply. Some even claimed that up to 90 percent was dumped.

Crypto publication Cointelegraph also revealed on X on-chain data that showed $227 million in $OM was moved to exchanges ahead of the collapse.

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There are also claims that some investors of Mantra moved their $OM assets from noncustodial crypto wallets to CEXs such as Binance and OKX.

Statement of International CEXs on $OM Price Drop

Binance

In a post on X, Binance Customer Support said on the day of the crash that they were aware of $OM’s significant price volatility.

The CEX further said it had implemented various risk control measures, including reducing the leverage levels for $OM since October 2024. In January 2025, Binance added a pop-up warning on $OM’s spot trading page to inform users that the token had undergone significant changes to its tokenomics, increasing its supply.

“Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations. Binance constantly monitors leverage levels and makes adjustments according to market conditions for risk controls to help reduce volatility.”

Binance

Meanwhile, Binance founder Changpeng Zhao shared Cointelegraph’s on-chain data and said that while some people blame Binance for the $OM crash, he was sure that the big transfer of $OM from a wallet to exchanges “knows to avoid Binance.”

Don’t chase narratives.

Stick to fundamentals, projects with users, revenues, and profits.

Stay SAFU! 🙏

— CZ 🔶 BNB (@cz_binance) April 13, 2025

The founder then suggested that CEXs should not have a listing process but instead provide access to all tokens, allowing traders to decide what they want to trade.

I don’t run Binance anymore, but I actually think the reverse, ie, CEX (and DEX) should not have a listing process. They should provide access to all tokens in the universe. Traders decide what they want to trade.

— CZ 🔶 BNB (@cz_binance) April 13, 2025

OKX

Also on the day of the $OM price drop, OKX said it had observed significant volatility of $OM and noticed substantial trading volume spikes and price declines across various CEXs outside of OKX.

OKX then revealed that it conducted its own investigation using on-chain and internal exchange data:

“Our investigation uncovered that several on-chain addresses have been executing potentially coordinated large-scale deposits and withdrawals across various centralized exchanges since Mar 2025.”

Furthermore, OKX CEO Star Xu said the exchange would publish all reports regarding the incident.

“It’s a big scandal to the whole crypto industry. All of the onchain unlock and deposit data is public, all major exchanges’ collateral and liquidation data can be investigated.”

Star Xu, Chief Executive Officer, OKX

To help its users, the exchange said it adjusted a number of platform risk control parameters to mitigate potential impacts, while announcing that certain tokens may experience significant changes in supply, which could result in considerable price volatility.

A risk warning feature for the $OM trading page was also added to inform users of its increased volatility.

ByBit

Meanwhile, Bybit is not only at the center of the liquidity issue for $OM but also of the listing process of the token.

Two hours before Xu said that OKX would post its investigation findings, an OKX enthusiast alleged that Bybit was going to schools and asking students to download the exchange’s app. Another allegation claimed that Bybit encouraged KOLs to report the OKX wallet to regulators.

But the most serious accusation is that Bybit charges a $1.4 million listing fee for every project’s token.

Bybit CEO Ben Zhou immediately denied the allegations and commented on the X post of the OKX enthusiast, saying:

“The cryptocurrency world is so chaotic because of idiots like you who spread rumors without any evidence and fantasize every day.”

1. 去哪个学校让学生交易合约了？证据拿出来。
2. 哪个法务举报友商了？证据呢？
3. 哪个币上币收了上币费了？证据？
币圈就是因为有你这种没证据造谣的傻逼天天喜欢意淫才这么乱。

— Ben Zhou (@benbybit) April 14, 2025

This article is published on BitPinas: $OM Crash Fallout: Binance, OKX, and Bybit Address Price Drop and Insider Allegations

What else is happening in Crypto Philippines and beyond?

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آوریل 17, 2025