tl;dr
Crypto exchange Bybit announced it will discontinue multiple Web3 services by May 31, 2025, including its Cloud Wallet, Keyless Wallet, DEX Pro platform, Swap & Bridge service, and NFT Marketplace. Users must transfer assets from these services before the deadline to avoid loss or delayed access. Ot...
Bybit has announced it will discontinue multiple Web3 services by May 31, 2025, marking a strategic pivot to streamline growth and innovation. The services impacted include the Cloud Wallet, Keyless Wallet, DEX Pro platform, Swap & Bridge service, and the NFT Marketplace. Users are urged to transfer all assets from these platforms before the deadline to prevent loss or delayed access.
Earlier, in April, Bybit had already shut down services such as Inscriptions, NFT Pro, ApeX, Buy Crypto, and the IDO platform, with the Web3 Points program also ending on April 28. Despite these closures, Bybit will maintain support for certain features including Airdrop Arcade, staking products, DApps, and Seed Phrase Wallets.
The company specified that the Keyless Wallet will get a private key export function prior to its deletion, enabling users to continue wallet access via third-party platforms. Importantly, Bybit clarified it does not store users’ private keys, and once exported, the Keyless Wallet will be permanently deleted.
Bybit framed this downsizing as a move to focus on delivering a user-centric experience and allocate resources toward long-term onchain ecosystem development. The firm advises users to begin transferring assets promptly and ensure they have sufficient gas tokens to complete these transactions smoothly.