# Bybit Web3 Wallet (Cloud + Keyless)

> Source: https://docs.barcoder.ai/docs/wallets/bybit-web3
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Bybit — official](https://www.bybit.com/)

## Overview

**Bybit Web3 Wallet** (Cloud Wallet + Keyless Wallet) is **Bybit's Web3-extension suite** of services that became **partially-discontinued by May 31, 2025** as part of **strategic operational refocus** following **$1.4 billion February 2025 hack** <sup>[1][1], [2][2], [global-cro]</sup>.

**Discontinued services (after May 31, 2025)** <sup>[2][2]</sup>:
- **Cloud Wallet** (custodial hosted wallet)
- **Keyless Wallet** (non-custodial multi-party-computation MPC wallet)
- **DEX Pro**
- **Swap & Bridge** (cross-chain widget)
- **NFT Pro** (NFT marketplace)
- **Fiat-to-crypto on-ramp**
- **Inscription marketplace**
- **Access point to Apex Pro derivatives DEX**

**Remaining-supported services (post-May 2025)** <sup>[3][3]</sup>:
- **Seed Phrase Wallet** (self-custody)
- **Staking features**
- **DApps integration**
- **Airdrop Arcade**

**Distinctive context — cautionary tale**: Bybit's strategic shift reflects **$1.4B February 2025 hack impact** + need to **narrow Web3 services to refocus on growth + innovation in onchain ecosystem**. **Bybit-Web3-services-discontinuation** represents one of the **largest crypto-exchange Web3-wallet pivots** in 2025.

## History

**2018 — Bybit founded** as cryptocurrency exchange.

**2023 — Bybit launches Web3 Wallet suite** (Cloud + Keyless MPC).

**February 2025 — $1.4 billion Bybit hack** <sup>[2][2]</sup>: Massive crypto-exchange-security incident; led to strategic overhaul.

**May 31, 2025 — Bybit ends Cloud Wallet + Keyless Wallet + DEX Pro + Swap & Bridge + NFT Pro + fiat on-ramp + inscription marketplace + Apex Pro DEX access** <sup>[1][1], [2][2]</sup>.

**Post-May 2025**: Bybit retains Seed Phrase Wallet + Staking + DApps + Airdrop Arcade — narrowed Web3 focus.

## Ownership & operator

**Operating entity**: **Bybit Fintech Limited** (Bybit cryptocurrency exchange).

**Founder + CEO**: **Ben Zhou** (Chinese-born; Singapore-based).

**Major regulator presences**: **Cyprus CySEC + UAE VARA + various per-country crypto-exchange licenses**.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Bybit mobile app (iOS + Android) with embedded Web3 — partially-discontinued post-May 2025 |
| **Identifiers** | ETH + BTC + SOL + multi-chain addresses |
| **Discontinued services (after May 31 2025)** | Cloud Wallet + Keyless MPC Wallet + DEX Pro + Swap & Bridge + NFT Pro + fiat on-ramp + inscription marketplace + Apex Pro access |
| **Remaining services (post-May 2025)** | Seed Phrase Wallet (self-custody) + Staking + DApps + Airdrop Arcade |
| **Strategic shift trigger**: $1.4B February 2025 hack impact + refocus |
| **License** | Bybit exchange per-country licensed + wallet self-custody (non-regulated) |

## Users & growth

**Pre-discontinuation context** <sup>[1][1]</sup>:
- **Web3-services discontinuation date**: May 31, 2025
- **Strategic trigger**: $1.4 billion February 2025 Bybit hack
- **Post-May 2025 retained**: Seed Phrase Wallet + staking + DApps + Airdrop Arcade
- **Strategic narrative**: Narrowing Web3 services to refocus growth + innovation in onchain ecosystem

## Use cases (current + historical)

**Pre-May 2025**: Bybit Cloud Wallet (hosted custodial) + Keyless MPC Wallet (non-custodial) + DEX Pro + Swap & Bridge + NFT Pro + fiat on-ramp.

**Post-May 2025**: Self-custody Seed Phrase Wallet + Bybit staking + DApps + Airdrop Arcade.

## Implementations & partners

**Operator**: **Bybit Fintech Limited** (Ben Zhou founder + CEO).

**Major regulators**: Cyprus CySEC + UAE VARA + various per-country crypto-exchange.

**Major crypto-exchange Web3-wallet competitors**:
- **[OKX Wallet](https://docs.barcoder.ai/docs/wallets/okx-wallet)** (50M users + 140+ blockchains + 6.5% global market share)
- **[Binance Pay](https://docs.barcoder.ai/docs/wallets/binance-pay)** (Batch 9; Binance ecosystem)
- **[Trust Wallet](https://docs.barcoder.ai/docs/wallets/trust-wallet)** (Batch 9; Binance-owned)
- **[MetaMask](https://docs.barcoder.ai/docs/wallets/metamask)** (Batch 9; ConsenSys-owned EVM)

**Regulators**: Per-country (Cyprus CySEC + UAE VARA + others).

## Fun facts

- **Bybit Web3 Wallet largely discontinued by May 31, 2025** — cautionary tale of crypto-exchange Web3-wallet pivots.
- **Trigger**: **$1.4 billion February 2025 Bybit hack** (massive crypto-exchange security incident).
- **8 services discontinued**: Cloud Wallet + Keyless MPC Wallet + DEX Pro + Swap & Bridge + NFT Pro + fiat on-ramp + inscription marketplace + Apex Pro.
- **4 services retained**: Seed Phrase Wallet + Staking + DApps + Airdrop Arcade.
- **Strategic narrative**: Narrowing Web3 services to refocus growth + innovation in onchain ecosystem.
- **Distinctive 2025 crypto-exchange Web3-pivot moment** — alongside Bybit's broader strategic overhaul.

## Comparison

| Feature | Bybit Web3 Wallet | [OKX Wallet](https://docs.barcoder.ai/docs/wallets/okx-wallet) (OKX equivalent; thriving) | [Binance Pay](https://docs.barcoder.ai/docs/wallets/binance-pay) (Binance equivalent; Batch 9) | [Trust Wallet](https://docs.barcoder.ai/docs/wallets/trust-wallet) (Binance-owned multi-chain; Batch 9) | [MetaMask](https://docs.barcoder.ai/docs/wallets/metamask) (ConsenSys EVM; Batch 9) |
|---|---|---|---|---|---|
| Operator | **Bybit Fintech Limited (Ben Zhou founder; Web3 services largely discontinued May 31 2025)** | OKX (Aux Cayes FinTech Co. Ltd.; thriving) | Binance | Trust Wallet (Binance-owned) | ConsenSys / MetaMask |
| Type | **Bybit Web3 — Cloud + Keyless MPC + DEX Pro + Swap+Bridge + NFT Pro etc. — LARGELY DISCONTINUED May 31 2025** | Most interoperable multi-chain Web3 portal | Binance ecosystem payments | Multi-chain mass-market mobile wallet | EVM-focused most popular wallet |
| Status | **Partial-discontinued May 31 2025 (post-$1.4B Feb 2025 hack strategic refocus)** | Thriving; 50M users + 140+ blockchains | Active | Active | Active |
| Distinctive | **2025 cautionary tale of crypto-exchange Web3-wallet discontinuation; $1.4B hack trigger; narrowed to Seed Phrase + Staking + DApps + Airdrop Arcade** | Surpassed MetaMask in chain support; 6.5% global market share | Binance ecosystem | Multi-chain mass-market | World's #1 EVM wallet |

## Status

**Partial-discontinued, Bybit Web3 services largely ended May 31, 2025** <sup>[1][1], [2][2]</sup>:
- **Bybit Fintech Limited (Ben Zhou founder)** — Web3 Wallet suite launched 2023.
- **May 31, 2025**: 8 Web3 services discontinued post-$1.4B February 2025 hack.
- **Retained**: Seed Phrase Wallet + Staking + DApps + Airdrop Arcade.
- **Cautionary tale** of crypto-exchange Web3-wallet pivots in 2025.
- **Cyprus CySEC + UAE VARA + per-country regulated exchange**.

## Sources

[1]: https://cryptoslate.com/bybit-to-end-multiple-web3-services-in-strategic-pivot/ "Bybit ends multiple Web3 services strategic pivot — CryptoSlate"
[2]: https://finance.yahoo.com/news/bybit-shut-down-several-web3-011542411.html "Bybit shut down Web3 services May 2025 post-$1.4B hack — Yahoo"
[3]: https://www.bybit.com/en/help-center/article/FAQ-Discontinuation-of-Restricted-Product-Offerings-on-Wallet "Bybit Wallet product discontinuation FAQ"
[4]: https://www.okx.com/learn/web3-coin-bybit-shutdown-strategy "Bybit shutdown strategy from OKX perspective"

- [1] [Bybit ends Web3 services — CryptoSlate][1]
- [2] [Bybit Web3 services discontinuation post-$1.4B hack — Yahoo][2]
- [3] [Bybit Wallet product discontinuation FAQ][3]
- [4] [Bybit shutdown strategy — OKX][4]
- [global-cro] In-corpus: see country reports for self-custody global context

## Source

Biography extracted from [bybit-web3.md](https://docs.barcoder.ai/source/wallets/bybit-web3). See `matrix.md` for standards-support matrix if present.