3-4-2025 – To fortify its institutional safeguards, Bybit has forged an alliance with Zodia Custody, following the devastating $1.45 billion cyber heist that rattled the cryptocurrency exchange earlier this year.
The groundbreaking partnership introduces institutional-grade security architecture, drawing upon Zodia’s distinguished backing from City stalwarts, including Standard Chartered. The collaboration enables a sophisticated segregated custody framework, allowing institutional traders to maintain their digital assets under Zodia’s protective umbrella whilst executing trades on Bybit’s platform.
February’s unprecedented breach, which stands as the costliest cryptocurrency exchange infiltration to date, served as a stark reminder of the sector’s vulnerabilities. The incident, which saw digital assets worth nearly $1.5 billion vanish, underscored the pressing need for robust security measures that align with institutional expectations.
Julian Sawyer, at the helm of Zodia Custody, unveiled the partnership on Thursday, emphasising their bespoke institutional approach. Rather than retrofitting cryptocurrency solutions, Zodia’s offering has been engineered from the ground up to meet the exacting standards of institutional finance.
