Bybit Shuts Down Its NFT Marketplace As Crypto Sector Struggles To Recover
Cryptocurrency exchange Bybit announced Tuesday it will close its non-fungible token (NFT) marketplace on April 8 as the company refocuses on its core trading services.
The decision comes after a February security breach that cost the company $1.46 billion in stolen digital assets, which is believed to be the biggest known heist of all time.
Bybit has instructed users to transfer their NFTs to external wallets before the closure date to avoid potential losses.
The move comes during a broader cooling of the NFT market, with trading volumes declining significantly across major platforms in recent months.
However, many in the crypto industry are still bullish on NFTs.
Canary Capital filed an S-1 registration statement with the…
