Bybit closes its NFT market while struggling with the encryption sector for recovery

Cryptocurrency Exchang BYBIT announced on Tuesday that it will close its unable to reach the distinctive symbol (NFT) on April 8, as the company re -focuses on its basic commercial services.

the resolution It comes after a security breach in February costing the company $ 1.46 billion in stolen digital assets, which is believed to be the largest known theft in all times.

Proteit users are to transfer NFTS to external portfolios before the closing date to avoid possible losses.

This step comes during a wider cooling of the NFT market, with trading sizes dramatically decreased across the main platforms in recent months.

However, many in the coding industry are still optimistic about NFTS.

Canary Capital presented a S-1 registration statement with the US Securities and Exchange Committee (SEC) to a new fund that focuses on the NFT (ETF) in late March.

ETF will invest directly in PUGUINS NFTS and Pengu, project interest icon, and will also carry other encryption assets, such as ETHEREM (ETH) presentation.

In December, Raoul Pal said that NFTS may flourish due to the spread of the Fiat currency and the growing popularity of digital origins among young generations.

Although Marketplace Nft is closed, Bybit confirmed its commitment to progress in Blockchain technology, promising promising security protocols after February breach.

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Created Image: Midjourney