Bybit Says Operations Continue as OKX Founder Urges Shared Security Response

Bybit reports normal trading and withdrawals

Bybit says its platform was unaffected by the reported security incident and that trading and withdrawals remained available. Its official statement adds a service-status response to the wider industry reaction surrounding Binance.

The exchange said it was monitoring developments and warned users to rely on official channels rather than misinformation or phishing attempts. These are Bybit's own assurances about its operations, not an independent review of the platform.

Co-founder and chief executive Ben Zhou separately offered support to Binance, saying his team was ready to help. His message did not identify a completed assistance operation, a financial commitment or an amount recovered.

OKX founder proposes shared response standards

OKX founder Star Xu used his response on X to call for an industry-wide security mechanism involving exchanges and stablecoin issuers. His proposed framework includes real-time information alerts, rapid coordination, temporary restrictions on suspected stolen funds, and standardized procedures with clear responsibilities and safeguards.

Xu's emphasis was on response speed: institutions should be able to coordinate within minutes. His post describes a desired framework, not confirmation that a new consortium, shared system or binding agreement has launched. It is also not a statement establishing OKX's own incident exposure.

A later proposal focuses on the signing layer

In a follow-up published at 01:39 UTC on October 30, Xu proposed additional verification and security delays for large withdrawals to unfamiliar addresses and smart-contract permissions. He argued that safeguards should be enforced at the cryptographic signing layer, rather than relying only on application-level controls.

He also advocated incident notifications, suspicious-fund monitoring and rapid, lawful temporary freezes. These are suggested safeguards; the post does not establish what caused the Binance incident or that those controls have now been implemented.

Operational notices and coordination proposals answer different questions

Bybit's announcement addresses whether customers could continue using its services. Zhou's statement concerns willingness to assist another exchange. Xu's proposal addresses how firms might organize future joint responses. Treating all three as evidence of the same completed intervention would overstate what was announced.

For the exchange investigation itself, see our Binance incident report. Our regional-platform coverage separately compares the Binance TH and Binance.US notices.

For account-safety basics, see our guide to recognizing scams and protecting accounts.

Primary statements checked October 30, 2026, 05:44 UTC. The three earlier X statements are edited versions; their edit times are not treated as original publication times.