The cryptocurrency exchange Bybit has officially denied allegations against the company regarding a demand for $1.4 million for token listings. In its statement, the company also refuted claims that it uses influencers to pressure students participating in its affiliate program.
This is reported by Business • Media
These statements were made following accusations voiced on the social network X (formerly Twitter). On April 14, 2025, a user named silverfang88, who has over 100,000 followers, accused the platform of inflated listing fees and unethical behavior concerning the Campus Ambassador student program. According to him, the company allegedly engaged key opinion leaders (KOL) to suppress discontent among program participants.
1. Which school is getting students to trade contracts? Show the evidence. 2. Which legal department reported competitors? Where’s the evidence? 3. Which coin charged a listing fee? Evidence? The crypto space is so chaotic because of idiots like you who spread rumors without evidence and love to fantasize. — Ben Zhou (@benbybit) April 14, 2025
Bybit’s CEO Ben Zhou categorically rejected these allegations and urged the post’s author to provide concrete evidence. A representative of the exchange also clarified that the company requires a security deposit ranging from $200,000 to $300,000 in stablecoins. This deposit is used to cover advertising costs, and if the company fails to meet established goals, penalties may apply.
“Assessments focus on fundamental indicators and risk control, including on-chain data, address authenticity, use cases, user distribution, project valuation, token assessment, value capture mechanisms, and team credentials,” the company emphasized.
According to Bybit, the listing process includes a formal application, internal discussions, and project verification against a number of criteria such as online activity, token assessment, user base, and team reputation. The exchange also noted that it does not hold tokens for legal reasons.
The allegations regarding the 2024 student program are related to the provision of trial contracts and potential pressure on participants. The CEO of Bybit did not provide a direct response regarding this part of the situation at the time of the article’s publication, limiting himself to a call for evidence of violations.
It is worth noting that earlier, the Safe{Wallet} team published details of an attack on Bybit resulting in losses of $1.46 billion.