On April 14, a social media user named “silverfang88,” who has over 100,000 followers on X (formerly Twitter), accused the crypto exchange Bybit of charging a $1.4 million fee just to list a token on its platform.
The same person also said that Bybit used influencers, called key opinion leaders or KOLs, to keep students quiet after giving them trial contracts through its Campus Ambassador program.
Bybit’s CEO, Ben Zhou, responded quickly and strongly denied both claims. He asked the user to show proof.
Zhou wrote on X, “Please show evidence if Bybit has done anything wrong.” Zhou also pointed out that the crypto space is full of rumors and that many people post things online without any facts to back them up.
In a follow-up statement, the exchange explained that it does not ask for an expensive $1.4 million listing fee. Instead, it has a different process for listing tokens.
According to Bybit, projects are required to allocate a promotional budget, provide a security deposit of $200,000–$300,000 in stablecoins, and go through an internal evaluation process. This deposit is used to make sure the project sticks to its promotional goals. If those goals aren’t met, penalties might apply.
The listing process also includes a lot of checks. These include filling out forms, internal voting, research, and a meeting to review everything. Bybit looks at things like how the token works, what it’s used for, who’s behind it, and how trustworthy it is. The exchange also checks on-chain data (basically, blockchain records), how many users are involved, if the token has real value, how it captures that value, and the background of the team behind it.
In short, Bybit says it takes listings seriously and doesn’t just add any token without looking at the full picture. The company says these steps are in place to make sure only solid and trustworthy projects make it onto the platform.
On top of the listing fee claims, the social media user also accused Bybit of misusing its Campus Ambassador program. The user claimed that Bybit gave out trial contracts to students and later used influencers to pressure them into staying quiet about issues they faced. The user pointed to the 2024 version of the program and shared screenshots, though nothing shown clearly proved any wrongdoing.
Bybit has not made a public statement directly addressing these student-related claims. However, Ben Zhou did respond to the post again, repeating his call for proof and saying that if anyone has solid evidence, they should bring it forward.
So far, no further proof has been shared online, and Bybit hasn’t changed anything about how it runs its programs or listings. The company continues to deny all of the claims and says its process is fair, clear, and structured. Zhou and his team appear confident that there’s no truth behind the accusations.
