Crypto Trader on Bybit’s dispute system failures: 'I’ve heard of many cases where they side with the wrong person!'

According to Trustpilot reviews, negative feedback regarding Bybit’s P2P platform increased significantly by mid-2025. Users reported issues such as unresolved withdrawals, unresponsive customer support, and allegations that the platform favors scammers over legitimate users. Specific complaints included funds being frozen for extended periods without resolution and inadequate buyer protection measures.

A comparative analysis of P2P cryptocurrency platforms indicates that Bybit is less effective in resolving disputes compared to its peers. Approximately 28% of assets stolen during a hack in February 2025 were reportedly moved through P2P and Over-the-Counter (OTC) channels into mixers, making them untraceable. The CEO of Bybit confirmed that around 27.6% of the $1.4–$1.5 billion stolen were funneled into P2P routes and could not be traced or frozen, contrasting with lower percentages reported by other exchanges.

Bybit is a cryptocurrency exchange established in 2018, offering various trading services worldwide including spot, margin, futures, options, and peer-to-peer trading. In May 2022, France's financial regulator, the Autorité des Marchés Financiers (AMF), blacklisted Bybit for operating without authorization under French law. The AMF warned investors that Bybit was not registered as a Digital Asset Service Provider and retained the right to block its website.