What’s next for Malaysian users amidst Bybit issue.

[Cryptoic]

Coming across the news that Bybit has been ordered to shut down operations in Malaysia by the Securities Commission Malaysia had me in shock. I found out it has failed to register with the government despite being on the investor alert list for three years now. I can’t imagine how much this will affect users. 

Source: https://www.theblock.co/post/332552/malaysia-orders-bybit-to-halt-local-operations-over-registration-failure

Malaysian users are to withdraw their assets before the end of the year because all Bybit accounts will get suspended. Within this limited timeframe, ex-users are to find a trusted exchange to transfer their assets to and this could be a problem but i think Bitget exchange would solve this hassle,it has proven to be a reliable alternative.

What do think users will do to avoid future issues like this? Do you think Bybit can resume operations anytime soon ?

Edited December 30, 2024 by Cryptoic