Bybit, a centralized cryptocurrency exchange, has seen a significant decline in its market share following a $1.4 billion hack by the Lazarus Group. According to data from analytics platform Kaiko, Bybit's share of overall trading volume has dropped by over 50% since the hack. Binance, the world's largest exchange, experienced a surge in trading activity and gained market share as a result of the Bybit hack. Other exchanges such as OKX and Coinbase also saw increases in their market share, albeit not at the same rate as Binance. Bybit's current market share indicates a resurgence in trading activity and shows that some users are returning. Efforts to recover the stolen funds have been slow, with only around 3% of the funds frozen so far. Bybit has paid out a bounty of 10% of every recovered fund, totaling $4.32 million, to those who have helped freeze the funds or provided relevant information. The hackers have reportedly converted at least $300 million of the stolen funds.



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