Binance Co-founder CZ: Large-Scale Theft Exposes Serious Security Failures

on November 4, Binance co-founder CZ posted that a hack of this scale indicates serious security lapses. While no platform can guarantee absolute security, this cannot be used as an excuse.

CZ stated that publicly explaining the incident simplifies the narrative of an attack that appeared to span months or years, targeted hundreds of employees and systems, and ultimately compromised a few specific targets. He believes sharing these details will help the entire industry learn from the incident. As a shareholder, he hopes Binance will transparently disclose the issues, take responsibility, heed criticism, and implement substantive improvements.