Bybit halts deposits via USD bank transfer, citing partner ‘service outages’

Crypto exchange Bybit stopped USD deposits via bank transfer, citing “service outages” from a partner. 

“Effective immediately, USD deposits via wire transfer (SWIFT) and wire transfer (for U.S. banks) are no longer available,” said a company announcement on Saturday.  

The Block reached out to a Bybit representative for further comment but had not heard back by time of publication. 

Bybit continued to stress that USD deposits via the crypto wallet Advcash or credit card purchases of cryptocurrencies were still available on the exchange.

Bybit said it will soon launch the Advcash Wallet withdrawal service, and that withdrawals via SWIFT or U.S. bank wire transfers are available until March 10 at midnight UTC. 

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The exchange said that USD assets held in Bybit are safe and secure. Previously, the company rolled out a system that allows its customers to verify crypto assets the crypto exchange platform holds in its reserves. 

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