{"id":"ben-zhou","title":"Ben Zhou","content":"**Ben Zhou** is the Co-founder and CEO of [Bybit](https://iq.wiki/wiki/bybit), a [centralized exchange platform (CEX)](https://iq.wiki/wiki/cex-centralized-exchange) with over 100 listed [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), more than 100 crypto derivative contracts, and a user base exceeded 5 million registered users. [\\[1\\]](#cite-id-XfpSSEDTfS) [\\[2\\]](#cite-id-sx5Yz7pSAV)\n\n$$widget0 [YOUTUBE@VID](cMXKTnascpk)$$\n\n## Education & Early Life\n\nBen Zhou was born in Hangzhou, China, in 1990, and relocated to New Zealand with his family at the age of 11. According to Zhou, his parents instilled values of diligence and perseverance, while also fostering his interest in baseball, which he pursued throughout his schooling, including college.\n\nZhou attended Earlham College, where he earned a bachelor's degree in economics in 2010.\n\nDespite initial difficulties adjusting to different cultures, he later pursued further studies in the United States before returning to China after completing his education. [\\[3\\]](#cite-id-6axro45Jcg) [\\[4\\]](#cite-id-8kY7UziWKb)\n\n## Crypto Journey\n\nBen Zhou's interest in [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) began in 2016 when he was introduced to [blockchain](https://iq.wiki/wiki/blockchain) technology by a friend. Recognizing the potential of this emerging digital realm, Zhou delved into research and began trading cryptocurrencies. [\\[2\\]](#cite-id-sx5Yz7pSAV) [\\[1\\]](#cite-id-XfpSSEDTfS) [\\[3\\]](#cite-id-6axro45Jcg)\n\nObserving the rapid growth of the crypto industry in 2017, Zhou identified a lack of awareness among users regarding its intricacies. To address this gap, he initially started a YouTube channel with the aim of educating viewers about [cryptocurrency](https://iq.wiki/wiki/cryptocurrency). Additionally to YouTube, he used WeChat to spread information, where he gained around 20k followers. [\\[2\\]](#cite-id-sx5Yz7pSAV) [\\[1\\]](#cite-id-XfpSSEDTfS) [\\[3\\]](#cite-id-6axro45Jcg)\n\n## Career\n\nAs the Co-founder and CEO of [Bybit](https://iq.wiki/wiki/bybit), a [centralized exchange](https://iq.wiki/wiki/cex-centralized-exchange) platform (CEX) with over 100 listed cryptocurrencies, more than 100 crypto derivative contracts, and over 5 million registered users, Ben Zhou leads the direction and operations of the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange since 2018.\n\nPrior to this role, Zhou embarked on his career in China after completing college, serving as the Greater China region manager at XM, an international forex brokerage company, for seven years. [\\[3\\]](#cite-id-6axro45Jcg) [\\[4\\]](#cite-id-8kY7UziWKb) [\\[2\\]](#cite-id-sx5Yz7pSAV) [\\[1\\]](#cite-id-XfpSSEDTfS)\n\n### ByBit\n\n[Bybit](https://iq.wiki/wiki/bybit), founded by Ben Zhou, aims to enhance the standards of [crypto](https://iq.wiki/wiki/cryptocurrency) derivative exchanges and enhance trading experiences.\n\nBen Zhou, leveraging his experience in the forex trading industry, identified inefficiencies in the [crypto](https://iq.wiki/wiki/cryptocurrency) derivatives market and sought to address them through [Bybit](https://iq.wiki/wiki/bybit).\n\nAccording to Zhou, one key focus was on improving order execution and reducing order rejections to ensure efficient fulfillment of traders' basic needs.\n\nAdditionally, [Bybit](https://iq.wiki/wiki/bybit) intends to prioritize customer service, offering clients direct access to support representatives online and fostering transparency by allowing clients to connect with the team via social media platforms. By organizing offline meetups and seminars, Zhou claims Bybit establishes closer connections with its clients.\n\n> “I wanted to make an exchange where clients are able to find our customer support at any time of the day and talk to them directly online.”\n\nFurthermore, Ben Zhou expresses the importance of providing educational resources to traders launched the [Bybit](https://iq.wiki/wiki/bybit) Academy, offering webinars and seminars covering topics such as margin trading, risk management, technical analysis, and fundamental analysis. [\\[1\\]](#cite-id-XfpSSEDTfS)\n\n## Bybit's recent activities\n\nOn June 19, 2024, [Bybit](https://iq.wiki/wiki/bybit) listed BIAO, a memecoin on the [Base](https://iq.wiki/wiki/base) [blockchain](https://iq.wiki/wiki/blockchain). Ben Zhou announced this on his X (formerly Twitter) account and included a quote from his tweet:\n\n> I asked for it, and you delivered. The BIAO community has shown up in full force, and I’m excited to welcome them to the Bybit family. The BIAO token will be listed on Bybit on June 19 at 10 AM UTC. Get ready! #BIAOonBybit\n\n[\\[7\\]](#cite-id-ZpvalUCmnr)\n\n## Bybit Hack and Recovery Efforts\n\nOn February 21, 2025, [Bybit](https://iq.wiki/wiki/bybit) experienced a significant security breach, resulting in the theft of approximately $1.4 billion to $1.5 billion in [Ether (ETH)](https://iq.wiki/wiki/ethereum). The attack is linked to the Lazarus Group, a cybercriminal organization believed to be state-backed by North Korea.\n\nThe hackers exploited a vulnerability in the process of transferring funds from [cold](https://iq.wiki/wiki/cold-wallet) (offline) to warm (online) [wallets](https://iq.wiki/wiki/cryptocurrency-wallet). They reportedly altered the contract logic, split the stolen funds across 39 different wallets, and may have compromised private keys or used blind signature tactics to bypass security measures. The stolen assets included staked [Ether](https://iq.wiki/wiki/ethereum), complicating recovery efforts.\n\nFollowing the hack, Ben Zhou confirmed the incident and assured users that [Bybit](https://iq.wiki/wiki/bybit) maintained 1:1 backing for all assets and remained solvent. Bybit quickly reported the breach to authorities and [blockchain](https://iq.wiki/wiki/blockchain) analytics firms. Withdrawal services were fully restored within 12 hours of the incident.\n\nIn the days following the attack, [Bybit](https://iq.wiki/wiki/bybit) saw a $4 billion inflow, helping to offset the losses. Tether froze $181,000 in fraudulent [USDt](https://iq.wiki/wiki/tether). [Bybit](https://iq.wiki/wiki/bybit) also launched a bounty program, offering a 10% reward for information leading to the recovery of stolen funds.\n\nBy February 24, 2025, [Bybit](https://iq.wiki/wiki/bybit) announced the recovery of $1.23 billion in [ETH](https://iq.wiki/wiki/ethereum), covering the deficit caused by the hack. An additional $42.89 million in stolen funds were frozen through collaboration with other [crypto](https://iq.wiki/wiki/cryptocurrency) firms.\n\nBen Zhou has continued to provide updates on the recovery efforts. As of April 21, 2025, approximately 68.57% of the hacked funds were traceable, 27.59% had become untraceable, and 3.84% had been frozen. A significant portion of the untraceable funds were moved through mixers like Wasabi and then transferred across chains using bridges to [peer-to-peer](https://iq.wiki/wiki/peer-to-peer-trading-p2p) and over-the-counter platforms. About 432,748 [ETH](https://iq.wiki/wiki/ethereum) (around $1.21 billion) was converted to [Bitcoin (BTC)](https://iq.wiki/wiki/bitcoin) via [Thorchain](https://iq.wiki/wiki/thorchain), with 67.25% of that amount (10,003 [BTC](https://iq.wiki/wiki/bitcoin)) spread across numerous [wallets](https://iq.wiki/wiki/cryptocurrency-wallet).\n\nThe bounty program has received thousands of reports, with 70 deemed valid, and $2.18 million in [USDt](https://iq.wiki/wiki/tether) paid out to those who assisted in freezing assets. [Bybit](https://iq.wiki/wiki/bybit) continues to seek assistance from bounty hunters to decode mixers and recover the remaining funds. [\\[6\\]](#cite-id-A7a38aaboA) [\\[5\\]](#cite-id-eax11EAFcu)\n\n## Bybit's 2025 Agenda and Future Roadmap\n\nIn his mid-year keynote in August 2025, Ben Zhou outlined [Bybit's](https://iq.wiki/wiki/bybit) future roadmap under the theme \"Rewrite Your Success, Reshape The Standard.\" The agenda focused on real-world applications, institutional-grade innovation, and deep ecosystem collaboration, with key pillars being trust, liquidity, and [Web3](https://iq.wiki/wiki/web3). [\\[8\\]](#cite-id-1hkiDcTH46) [\\[9\\]](#cite-id-2PcIdZ9bR0) [\\[10\\]](#cite-id-WglI8hjVjl)\n\n### Trust Through Compliance and Security\n\nZhou emphasized a \"compliance-first\" strategy as a cornerstone for growth. In the first half of 2025, [Bybit](https://iq.wiki/wiki/bybit) became fully compliant with the European Union's Markets in Crypto-Assets Regulation (MiCAR), authorizing it to operate across all 29 EEA countries, and also secured registration with India's Financial Intelligence Unit (FIU). The company announced the launch of Bybit.eu and physical expansion with new offices in several European countries.\n\nA key talking point was the response to the February 2025 hack. Zhou clarified that the funds were stolen from a third-party custodian, not [Bybit's](https://iq.wiki/wiki/bybit) own systems. The exchange's response, which included completing nine independent security audits and implementing over 50 new security measures, was presented as a new industry benchmark for platform integrity and security. [\\[8\\]](#cite-id-1hkiDcTH46) [\\[9\\]](#cite-id-2PcIdZ9bR0) [\\[10\\]](#cite-id-WglI8hjVjl)\n\n### Enhanced Liquidity and Infrastructure\n\nDuring the keynote, Zhou highlighted significant performance milestones, including reaching 74 million users, which equates to one in eight [crypto](https://iq.wiki/wiki/cryptocurrency) investors worldwide. The platform's upgraded matching engine was reported to handle 3.5 million transactions per second and nearly 200 billion daily orders, a 75% year-on-year increase.\n\nTo enhance liquidity, [Bybit](https://iq.wiki/wiki/bybit) expanded its Rapid Price Improvement (RPI) mechanism from spot to perpetual contracts, which reportedly boosted liquidity by 150% and tightened spreads. The exchange also launched TradFi, a multi-asset platform within the Bybit app offering traditional financial products like gold, indices, and stock CFDs against [USDT](https://iq.wiki/wiki/tether). The company's Private Wealth Management arm also grew, surpassing $150 million in assets under management. [\\[8\\]](#cite-id-1hkiDcTH46) [\\[9\\]](#cite-id-2PcIdZ9bR0) [\\[10\\]](#cite-id-WglI8hjVjl)\n\n### Web3 Integration and Product Innovation\n\nA major announcement was the deeper strategic collaboration with [Mantle](https://iq.wiki/wiki/mantle-network) for Mantle 2.0, aiming to integrate institutional-grade infrastructure with [decentralized finance](https://iq.wiki/wiki/defi) (DeFi). Bybit executives, including co-CEO Helen Liu and Head of Spot and [Web3](https://iq.wiki/wiki/web3) Emily Bao, were appointed as advisers to the project.\n\nSeveral new products and enhancements were unveiled, including [bbSOL](https://iq.wiki/wiki/bybit-staked-sol), a [Solana](https://iq.wiki/wiki/solana) [liquid staking](https://iq.wiki/wiki/liquid-staking) token; an enhanced TradeGPT AI tool; Megadrop, a new token launch platform; a Listing Billboard for project transparency; and Tokenized Stocks. The keynote also introduced \"On-Chain Bybit,\" an initiative to integrate [DeFi](https://iq.wiki/wiki/defi) trading and yield products directly within exchange accounts, and the [Bybit](https://iq.wiki/wiki/bybit) App 5.0 update, which includes a \"Lite mode\" for new users. [\\[8\\]](#cite-id-1hkiDcTH46) [\\[10\\]](#cite-id-WglI8hjVjl)","summary":"Ben Zhou is the Co-founder and CEO of Bybit, a centralized exchange platform (CEX) with a large user base, originally from Hangzhou, China.","images":[{"id":"QmeSgkt4MPwAfcktTfp7niDzbnX4d6NnhaWv1dJVcsSzx3","type":"image/jpeg, image/png"}],"categories":[{"id":"people","title":"People in crypto"}],"tags":[{"id":"Founders"}],"media":[{"id":"https://www.youtube.com/watch?v=cMXKTnascpk","size":"0","name":"cMXKTnascpk","type":null,"source":"YOUTUBE"}],"metadata":[{"id":"twitter_profile","value":"https://twitter.com/benbybit?lang=de"},{"id":"linkedin_profile","value":"https://www.linkedin.com/in/ben-zhou-b979ba28"},{"id":"references","value":"[{\"id\":\"XfpSSEDTfS\",\"url\":\"https://cryptoslate.com/people/ben-zhou/\",\"description\":\"Ben Zhou profile on CryptoSlate\",\"timestamp\":1749515164803},{\"id\":\"sx5Yz7pSAV\",\"url\":\"https://golden.com/wiki/Ben\\\\_Zhou-GZ5RADV\",\"description\":\"Ben Zhou profile on Golden\",\"timestamp\":1749515164803},{\"id\":\"6axro45Jcg\",\"url\":\"https://droomdroom.com/ben-zhou/\",\"description\":\"Ben Zhou biography on Droomdroom\",\"timestamp\":1749515164803},{\"id\":\"8kY7UziWKb\",\"url\":\"https://cryptonica.news/people/ben-zhou\",\"description\":\"Ben Zhou biography on Cryptonica\",\"timestamp\":1749515164803},{\"id\":\"eax11EAFcu\",\"url\":\"https://www.ccn.com/education/crypto/ben-zhou-bybit-1-5-billion-hack-explained/\",\"description\":\"CCN.com article on Bybit hack\",\"timestamp\":1749515164803},{\"id\":\"A7a38aaboA\",\"url\":\"https://news.bitcoin.com/bybit-ceo-ben-zhou-provides-update-on-hacked-funds-and-recovery-efforts/\",\"description\":\"Bitcoin.com News article on Bybit hack update\",\"timestamp\":1749515164803},{\"id\":\"ZpvalUCmnr\",\"url\":\"https://x.com/benbybit/status/1803375172579389873\",\"description\":\"Ben Zhou announces BIAO listing on X\",\"timestamp\":1754402235483},{\"id\":\"1hkiDcTH46\",\"url\":\"https://cointelegraph.com/news/ben-zhou-details-bybit-s-2025-agenda-with-a-focus-on-trust-liquidity-and-web3\",\"description\":\"Ben Zhou details Bybit’s 2025 agenda\",\"timestamp\":1755835411103},{\"id\":\"2PcIdZ9bR0\",\"url\":\"https://www.ainvest.com/news/bybit-ceo-ben-zhou-outlines-bold-roadmap-crypto-future-mid-year-keynote-2508/\",\"description\":\"Bybit CEO Ben Zhou Outlines Bold Roadmap\",\"timestamp\":1755835411103},{\"id\":\"WglI8hjVjl\",\"url\":\"https://www.odaily.news/en/post/5205557\",\"description\":\"Bybit co-founder and CEO Ben Zhou outlined a new blueprint\",\"timestamp\":1755835411103}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmUovHtULdwxi27Zt4fV93WS9Wjg1mU5dqxTQhCdBbcCsM\""},{"id":"commit-message","value":"\"Updated Ben Zhou's wiki with details on Bybit's 2025 agenda and future roadmap, and linked relevant terms.\""},{"id":"previous_cid","value":"QmUovHtULdwxi27Zt4fV93WS9Wjg1mU5dqxTQhCdBbcCsM"}],"events":[],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0xf32ECD5c8f5633212f1a25A3931aDDc0CEc42938"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]}}