Bybit and Bitget see crypto deposits surge following Binance’s $6.3 billion hack

Rival crypto exchanges, including Bybit and Bitget , saw a surge in deposit activity following Binance's Oct. 29 hack. The increase coincided with Binance's nearly three-day withdrawal suspension after hackers stole approximately $6.3 billion from the world's largest crypto exchange, disrupting customers' ability to move funds to competing platforms. According to blockchain analytics firm Bitquery , the number of addresses depositing funds into Bybit's Ethereum wallets jumped 142% to 31,539 between Oct. 29 and Nov. 1, compared with 13,038 during the equivalent period a week earlier. The exchange received approximately $239 million in Ethereum stablecoin deposits, up from $95 million, while its TRON depositing addresses increased 71% to 68,192. The median Ethereum deposit also fell to roughly one-third of its previous level, suggesting more activity from smaller wallets.

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