Binance co-founder Changpeng Zhao, known as CZ, said a hack of this scale indicates serious security failures and that no platform can promise absolute safety, but that cannot be used as an excuse. In his post, CZ said the public explanation simplified what appeared to be an attack that lasted for months or even years and targeted hundreds of employees and systems, with only a small number of targets ultimately breached. He added that sharing details could help the wider industry learn from the incident. Speaking as a shareholder, CZ said he wants Binance to disclose the issue transparently, take responsibility, listen to criticism, and make meaningful improvements.
According to ChainCatcher, Binance co-founder Changpeng Zhao, or CZ, said a hack of this scale means there were serious security failures. He said no platform can guarantee absolute safety, but that cannot serve as an excuse.
CZ said the public explanation simplified what appeared to be an attack that lasted for months or even years, targeting hundreds of employees and systems. In the end, only a small number of targets were breached.
He said sharing details would help the broader industry learn from the case. As a shareholder, he said he wants Binance to disclose the issue transparently, take responsibility, listen to criticism, and make substantive improvements.
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