Bybit review: licences, terms and gambling clause
Can you deposit to a casino from Bybit?
Bybit's gambling clause: not verified, because its binding document could not be read. 1 registration is confirmed in an issuing register. 5 points are not verified. 1 primary-source incident is recorded. KYC rules: no data in this entry. Every clause behind this answer is quoted further down the page with its source and the date it was read.
Documents last checked Reviewed by CryptoGuardz Register Desk, editorial desk
Disclosure: CryptoGuardz has no commercial relationship with Bybit, earns nothing if you open an account there, and has not contacted the company or given it notice of this entry. Every statement below is either a verbatim quote from a document Bybit publishes or a statement about a public register, and both carry the date they were read. Corrections go to the corrections page.
1. What this means for you
Consequences first, in the conditional, each one produced by a clause in a document Bybit publishes itself. Every line links to that clause, quoted in full and dated.
- You cannot read the contract that binds you if you are outside the European Economic Area The global bybit.com terms of service could not be retrieved by any route available to this register, so the freeze, withdrawal, liquidation and arbitration clauses binding a non-EEA user are not recorded here and must not be read across from the EU documents.
- Your withdrawal can be held for manual review if it is large or looks risky The custody policy reserves additional manual review for higher-value or higher-risk withdrawals and describes an emergency return procedure under Article 75(6) MiCAR.
- You are probably not covered by the authorisation you can see if you are outside the European Economic Area The confirmed authorisation is held by Bybit EU GmbH, and the entity that contracts with a user elsewhere is a different company.
2. What this entry records, and what it does not
This register publishes no number for an exchange. The payout score on the casino register has five defined components and a published arithmetic; no equivalent instrument exists here, and inventing one to fill the space would be a measurement nobody made. What follows instead is a field-by-field account of what was read, where it was read and when.
| Binding terms | No dataThe global bybit.com terms of service could not be retrieved. The clauses recorded on this page come from the Bybit EU GmbH documents and bind only a user contracting with that Austrian company. |
|---|---|
| Contracting entity | Bybit EU GmbHJurisdiction Austria · FN 636180 i |
| Registration check | 1 confirmed in the issuing authority's own registerESMA interim MiCA register, published CSV, read 2026-09-22 |
| Proof of reserves | No dataNo exchange-hosted disclosure page could be loaded by any route attempted. |
| Insolvency outcome | Stated in the terms Quoted in section 7 |
| Withdrawal test | Not measuredNo first-party deposit or withdrawal has been run against this exchange. It would require funding an account, which this register has not done. Until it has, nothing here is a measurement of how fast the exchange pays. |
| On-chain reserve verification | Not measuredNo independent reconstruction of the Merkle tree or of the exchange's wallet holdings has been attempted. |
The global bybit.com terms of service could not be retrieved through any route available here. The path bybit.com/en/terms-service/ returns the Bybit homepage. The path that does carry the title Terms Of Service loads its body from a content system that answered neither a plain HTTP request, nor a request carrying the RSC header, nor a stealth headless or headful browser with waits up to twelve seconds. The EU equivalent renders as a 128 page PDF viewer of which page 1 was captured.
The account-freeze, withdrawal-suspension, forced-liquidation and arbitration clauses binding a non-EEA Bybit user are therefore absent from this entry, and they must not be inferred from the documents that are here. The Bybit EU documents are governed by Austrian civil law and by MiCA, they give a two-month objection period on amendments and a statutory segregation of client assets, and they are materially more protective than a set of offshore terms would be expected to be. Reading them as a proxy for the global terms would produce the single most misleading paragraph on this site.
3. What we could not verify
Every entry carries this section. The gaps are published because a reader deserves the limits of the check as well as its results.
- The global bybit.com terms of service. The document could not be retrieved through any route available here. The path https://www.bybit.com/en/terms-service/ returns the Bybit homepage. The path https://www.bybit.com/en/legal/terms-and-conditions/terms-of-service returns a page whose title is Terms Of Service but whose body is fetched client side by a content system that did not respond to a headless or stealth browser with waits up to 12 seconds, nor to a plain HTTP request, nor to a request carrying the RSC header. The equivalent EU path renders as a paginated PDF viewer, of which only the first page could be captured. Consequently the account-freeze, withdrawal-suspension, forced-liquidation and arbitration clauses that bind a non-EEA Bybit user are NOT recorded in this entry and must not be inferred from the EU documents, which are governed by Austrian law and MiCA and are materially more protective.
- The identity, jurisdiction and company number of the entity that contracts with a Bybit user outside the EEA. Bybit Fintech FZE, Dubai, appears in Bybit's own marketing translation strings but not in any binding document that could be retrieved.
- Bybit's proof of reserves. No Bybit-hosted disclosure page could be loaded, so no reserve ratio, as-of date, signer or scope limitation is recorded.
- Whether the remaining 127 pages of the Bybit EU General Terms contain an account-freeze or forced-liquidation clause. Only page 1 of 128 rendered.
- Bybit's own post-mortem of the February 2025 theft. Only the FBI public service announcement is recorded, because no Bybit-hosted incident report could be retrieved.
4. Who you are contracting with
The counterparty named in the binding document, not the brand on the website. This is the company a claim would be brought against and whose insolvency estate a user would be a creditor of.
| Named counterparty | Bybit EU GmbHsource · retrieved 2026-09-22 |
|---|---|
| Jurisdiction of incorporation | Austria |
| Company number | FN 636180 i |
Bybit contracts through different entities in different regions and the register records only the European one. The General Terms and Conditions for the Provision of services by Bybit EU, dated 12 June 2026, state: "These general terms and conditions (\"General Terms\") apply to the entire contractual relationship between Bybit EU GmbH (\"Bybit EU\", \"Company\", \"we\", \"us\" or \"our\") and its clients", and the definitions table states that Bybit EU "means Bybit EU GmbH, with its corporate seat in Vienna, registered with the commercial register of the commercial court Vienna under FN 636180i."
The Summary of the Custody and Administration Policy dated 28 May 2026 gives the registered address and number in the same form: "Bybit EU GmbH, Donau-City-Strasse 7, 1220 Vienna, Austria, Register Number (FN): 636180 i". The address and the entity name match the ESMA MiCA register entry exactly.
For users outside the European Economic Area the contracting entity is not Bybit EU GmbH. Bybit's own translation strings on bybit.com describe events as "organized by Bybit Fintech FZE, a limited liability company registered in Dubai, United Arab Emirates, located at The Offices 4 - One Central, TO4-FLR10-10.1, Dubai World Trade Center, Dubai, UAE." That is a marketing string, not the terms of service, and it is recorded here as an unconfirmed pointer rather than as the contracting entity.
The global bybit.com terms of service could not be retrieved. See unverified.
The General Terms, service specific terms and all related documentation are made and published in various languages. In case of a dispute or any discrepancies, the German language version of the documents shall prevail.bybit.eu
5. Registrations, claimed and confirmed
1 of the registrations Bybit claims was found in the issuing authority's own public register. A confirmed registration covers the entity named on it and nothing else. Bybit is one of two exchanges in this cohort whose registration could be confirmed in the issuing authority's own register. The confirmation covers the European entity only. No register entry was confirmed for any Bybit entity serving users outside the EEA.
| Authority | Kind | Confirmed | What it covers |
|---|---|---|---|
| Austrian Financial Market Authority (FMA), crypto-asset service provider authorisation under Regulation (EU) 2023/1114 (MiCA) | authorisation | yes | Confirmed. The official ESMA interim MiCA register of authorised crypto-asset service providers, last updated 16 September 2026, carries the row: competent authority Austrian Financial Market Authority (FMA), home member state AT, entity Bybit EU GmbH, LEI 5299005V5GBSN2A4C303, commercial name Bybit, address Donau-City-Strasse 7, 1220 Vienna, Austria, website https://www.bybit.eu, authorisation notification date 28/05/2025, no end date. Services authorised: providing custody and administration of crypto-assets on behalf of clients; exchange of crypto-assets for funds; exchange of crypto-assets for other crypto-assets; placing of crypto-assets; providing transfer services for crypto-assets on behalf of clients. Passported into 29 EEA states. Note what is absent: service b, operation of a trading platform for crypto-assets, is NOT among the authorised services, and the General Terms say so expressly: "In particular, Bybit EU is neither the operator of a trading platform for Crypto-Assets nor provides investment advice." This is a full MiCA licence to provide the listed crypto-asset services, not a money-services registration. |
| European Securities and Markets Authority (MiCA register of non-compliant entities) | adverse listing | not listed | Negative check. The official ESMA register of non-compliant entities providing crypto-asset services was downloaded and searched. The string Bybit does not appear in it. |
6. Proof of reserves
No Bybit-hosted proof of reserves page could be loaded. Not retrievable. Bybit is widely reported to publish a monthly Merkle tree proof of reserves, but no Bybit-hosted proof of reserves page could be loaded. Seven candidate paths on bybit.com were requested (/en/proof-of-reserves, /en/proof-of-reserves/, /en/proof-of-reserve, /en/proof-of-reserve/, /en/por, /en/user/assets/proof-of-reserves, /en/transparency) and every one of them returned the Bybit homepage with HTTP 200. Two help-centre article paths returned the string "This article is currently not supported on this site." No attestation, signer, standard, as-of date or scope limitation could therefore be recorded, and published is set to null rather than true or false.
Nothing is recorded here as a result. The field is No data rather than no, because a page that would not load is not the same as a disclosure that does not exist, and this register does not publish the two as though they were.
7. Custody, segregation and insolvency
What the binding document says about where your coins sit and what happens to them if the exchange fails, quoted rather than characterised.
In accordance with Article 75(7) MiCAR, clients’ crypto-assets are kept segregated from Bybit EU’s own crypto-assets. Legally, the Custody Agreement is governed by Austrian civil law; clients remain the legal and beneficial owner of their crypto-assets and Bybit EU acts as mere factual holder, so that in an insolvency of Bybit EU clients’ crypto-assets are intended to be protected from claims of Bybit EU’s creditors. Operationally, clients’ crypto-assets are held in dedicated client wallets that are kept on-chain separate from any wallets used for Bybit EU’s own assets, and each client’s share is recorded in real time on a separate internal ledger. Ongoing monitoring and regular reconciliations are performed between on-chain holdings and the internal ledger.bybit.eu
clients remain the legal and beneficial owner of their crypto-assets and Bybit EU acts as mere factual holder, so that in an insolvency of Bybit EU clients’ crypto-assets are intended to be protected from claims of Bybit EU’s creditors.bybit.eu
8. Freezing your account
Not recorded. The document containing this clause could not be retrieved. See section 2.
9. Suspending withdrawals
Clients may request the withdrawal of their crypto-assets at any time up to the available balance; withdrawals are processed through automated systems, with higher-value or higher-risk withdrawals subject to additional manual review. Crypto-assets are returned in the same type of crypto-asset as held for the client; any conversion only occurs on the client’s explicit instruction under a separate service. Bybit EU maintains emergency return procedures for situations where normal withdrawal functionalities are compromised or unavailable for a prolonged period, so that crypto-assets and the means of access can be returned to clients as soon as possible (Art. 75(6) MiCAR); short maintenance windows or brief downtime do not constitute an emergency.bybit.eu
10. Sending funds to a casino from Bybit
Not verified. The document that would contain Bybit's gambling clause could not be retrieved.
The global bybit.com terms of service could not be retrieved on 22 September or on 28 September 2026, when a stealth rendering service returned an empty body. The Bybit EU documents are not read across. Not verified.
11. Which networks Bybit withdraws USDT on
16 USDT networks listed with withdrawals enabled on 2026-09-28, including Ethereum, Tron, BNB Smart Chain, Solana, Polygon, Arbitrum, Optimism, Avalanche.
Read from the coin status data Bybit's public deposit and withdrawal status page loads, USDT chains with withdrawStatus 1. TON was reported with a different status and is left out, as are three chains with withdrawals disabled. Source. Which DEXes operate on each of those chains is in the DEX register.
12. Amendment, liquidation, arbitration and governing law
The clauses that decide what the contract can become, what can be done to an open position, and where a dispute would be heard.
Whenever we intend to implement a change, we will notify you on paper or on another durable medium about the proposed amendments. Changes to these General Terms and the service specific terms will become effective upon the earlier of (i) your express acceptance of the amended General Terms (or service specific terms) or (ii) two months after the notification of the changes, unless you have objected to these changes.bybit.eu
Whenever we notify you of any changes, we will also inform you, that (i) if you do not object in text form or on the Platform within the two months' time frame before the changes come into effect, you will be deemed to have consented to the changes, and that (ii) you have the right to terminate the entire or parts of your contractual relationship that relate to the change without any notice period until the changes take effect. You will still have access to your Account during this period.bybit.eu
The preceding paragraphs do not apply to restrictions to the services of the Company and to the User's fees for existing products. For the avoidance of doubt, if we introduce a new product or service that does not change our current General Terms and service specific terms, we may implement it immediately. We will inform you before you start using it.bybit.eu
Every clause above is from the Bybit EU GmbH documents. The account-freeze, forced-liquidation and arbitration clauses of the global bybit.com terms of service could not be quoted because that document could not be retrieved. The Bybit EU amendment clause is the only one in this cohort that gives the user a right to object and a notice period, which is a consequence of MiCA and of Austrian law rather than of Bybit's drafting choices.
13. Public record
Matters of public record, taken from primary sources and stated with them. They are not scored, because a historical event is not a measurement of how the exchange behaves today, and leaving them out while citing the sources would be worse.
Theft of approximately $1.5 billion in virtual assets from Bybit. The FBI issued Public Service Announcement I-022625-PSA on 26 February 2025 stating: "The Federal Bureau of Investigation (FBI) is releasing this PSA to advise the Democratic People's Republic of Korea (North Korea) was responsible for the theft of approximately $1.5 billion USD in virtual assets from cryptocurrency exchange, Bybit, on or about February 21, 2025. FBI refers to this specific North Korean malicious cyber activity as \"TraderTraitor.\"" The PSA adds: "TraderTraitor actors are proceeding rapidly and have converted some of the stolen assets to Bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains. It is expected these assets will be further laundered and eventually converted to fiat currency." The PSA lists 51 Ethereum addresses holding or having held assets from the theft and asks virtual asset service providers to block transactions with them.
14. Who should avoid Bybit
Anyone outside the European Economic Area who is relying on the authorisation they can see. The confirmed authorisation is held by Bybit EU GmbH and covers that company's clients. A user elsewhere is contracting with a different entity under different terms.
A reader outside the European Economic Area should treat this entry as incomplete rather than reassuring: the terms that bind them are not in it.
Related entries
Or read the whole exchange register, the same method applied to wallets and to crypto casinos, the clause library at clause watch, or how this register works.