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Bybit says AI security tools helped it prevent $700M in losses
The exchange said its AI-assisted systems scanned nearly 1,500 assets and processed more than 100,000 security alerts between Jan. 1 and June 15.
Bybit, the crypto exchange still recovering from a record $1.46 billion hack attributed to North Korea’s Lazarus Group, said AI-assisted security tools helped it limit potential losses by blocking more than $700 million in suspicious withdrawals.
According to CoinDesk, the exchange said its automated systems uncovered high-severity vulnerabilities at up to five times the rate of manual review, and cut the time between assessing a system and testing it from about two weeks to about two hours.
Bybit added that from Jan. 1 through June 15, the AI system scanned 1,489 public-facing assets, processed over 100,000 security alerts with AI assistance, and stopped more than 30,000 withdrawal requests, protecting close to 20,000 users from losses it described as potential rather than confirmed.
The exchange also said the AI flagged about $212 million in funds it linked to fraud and blacklisted more than 10,000 addresses, though it noted those figures cannot be independently verified. It said the first review of a flagged withdrawal averaged 4.7 minutes and the time between finding an asset and testing it fell below 24 hours.