Bybit said in a November 3 announcement that its 41st proof-of-reserves report covered $17.3 billion in customer assets across 50 cryptocurrencies. The exchange said security firm Hacken independently checked the figures against a snapshot taken on October 27 at 06:00 UTC. Bybit reported reserve ratios above 100% for every covered asset, including 112% for USDT, 405% for USDC, 102% for Bitcoin and 101% for Ether.
The ratios compare identified reserves with customer balances under the report’s methodology. They do not establish that reserves can be moved between customer pools or that Bybit could meet every liability under every scenario. Balances and exposures may have changed since the snapshot, and the check does not necessarily identify undisclosed debts or other claims on the assets.
