Rumors of Bybit's insolvency cause panic, but the crypto exchange reassures users of its stability and urges them to check its Proof of Reserves. Rumors of Bybit’s insolvency have caused panic in the crypto community, triggered by an error on Arkham's on-chain analysis platform. Despite the turmoil, Bybit has reassured users of its stability and the baseless nature of these rumors, urging users to reference its Proof of Reserves. The false rumors led to withdrawals exceeding $50 million, but Bybit confirmed its financial health. Recent rumors about Bybit’s insolvency have spread quickly, causing widespread concern and speculation.