CZ says large-scale attack points to serious security failures and calls for full disclosure

Changpeng Zhao, widely known as CZ, said in a post on X that an attack of this scale indicates a serious security failure and should not be brushed aside with the argument that no system can ever be completely secure. He said the incident appeared to be a campaign that lasted for months, or even years, targeting hundreds of employees and multiple systems, with a small number of people and systems ultimately compromised. CZ added that disclosing the details may be embarrassing, but said doing so would help the broader industry learn from the incident. Speaking as a shareholder, he said he wants Binance to clearly explain what went wrong, take responsibility, listen to criticism from different sides, and make security improvements that carry real substance rather than serving as a formality.