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Bybit Web3 services shifting focus marks a major change for one of the crypto world’s top exchanges.
The company is sunsetting several features by the end of May 2025, aiming to streamline operations. This includes removing key products like the Cloud Wallet, Keyless Wallet, and the entire NFT Marketplace.
The changes are part of a broader strategic shift toward sustainable growth and innovation in the Web3 ecosystem. Users must take immediate action to protect their digital assets before these services vanish. Any tokens, NFTs, or inscription assets in affected wallets should be transferred by May 31. Otherwise, users may face delays and identity verification requirements.
Bybit Web3 Services Shutting Down: What’s Disappearing?
Among the discontinued tools are Bybit’s Swap & Bridge service and the DEX Pro platform. These services allowed seamless cross-chain transactions and decentralized trading. The NFT Marketplace, a space where creators and collectors interact, will also disappear.
Bybit confirmed that any NFTs not withdrawn in time may be permanently lost. Users should ensure their wallets contain enough gas tokens to complete transactions. Notably, support for services like ApeX, NFT Pro, Buy Crypto, and Initial DEX Offering (IDO) has already ended as of April 8. This year in February, Bybit was hacked with $1.46B losses registered successfully orchestrated by the Lazarus Group.
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Bybit Web3 Services Shifting Focus to Long-Term Innovation
Not everything is going away. Some elements of the BybitClick here for more Details Web3 ecosystem remain intact. The Airdrop Arcade, staking options, and decentralized apps (DApps) will still be supported. The Seed Phrase Wallet remains functional and is encouraged to be the main storage option going forward.
Meanwhile, the Keyless Wallet is being phased out, but a private key export feature will be introduced soon. This gives users access through third-party wallets. Bybit stressed it doesn’t hold private keys, and once exported, these wallets will be fully deleted.
The shutdown isn’t just about cutting features. It’s a realignment of priorities. Bybit emphasized that this move allows them to reallocate resources toward long-term innovation. Their goal is to create a more user-centric, efficient Web3 experience.
This realignment suggests a trend in the crypto space — consolidation over expansion. As more platforms look to focus their offerings, users are encouraged to adapt and migrate. It’s a message to the community: the era of experimental sprawl may be closing.
Bybit Web3 services shifting focus means less clutter and more concentrated development. It may lead to better, more reliable tools in the future.
