Unclosed assets on Bybit to be liquidated Aug. 13 as company winds down operations in France

This decision follows a statement made in May by the Autorité des Marchés Financiers (AMF). According to a press release from AMF, Bybit is "blacklisted" due to "non-compliance with current French regulations." The press release added that "the AMF reserves the right to take legal action to block the platform's website."

One crypto trader expressed dissatisfaction with how his funds were handled prior to the date set by Bybit. Despite meeting France's know-your-customer (KYC) requirements, his funds were liquidated earlier than expected. "I regret that, as I loved Bybit, and I planned to move my funds in the days to come," said CryptoWookiee in a post on X. He continued: "I did not bother to shut down my CopyTrading settings as it was clearly mentioned no new positions could be opened. And guess what... #Bybit system continued to open position on 4th and 5th of August crash and I was severely liquidated. My account is French KYCed and this should not have happened." He questioned why his CopyTrading sub-account was able to open positions after the discontinuation of services: "@bybithelpdesk why was my CopyTrading sub-account able to open position after your discontinuation of services?? It was not supposed to be possible. I want my money back."

Bybit was created in March 2018 and has positioned itself as a leading cryptocurrency exchange offering a comprehensive suite of cryptocurrency services and product solutions tailored for retail and institutional traders.