OKX founder Star said on X that he supports how Circle and Tether handled the suspected theft incident involving Binance, and urged exchanges, stablecoin issuers, and other industry participants to build a coordinated security response system across the sector. He said the industry needs a real-time alert mechanism so participants can share information as soon as an attack happens, coordinate a rapid response, and temporarily freeze suspicious funds before stolen assets are moved or laundered. Star said speed is the deciding factor and argued that the sector should adopt standardized procedures, define responsibilities for each party, and put suitable safeguards in place so action can be taken within minutes rather than hours or days. He added that protecting users and their assets should be a shared responsibility for the entire industry, not something left to a single platform. Earlier reports said Circle had worked with law enforcement to freeze more than 800 million USDC tied to the incident, while Tether also froze multiple related USDT transactions.
According to ChainCatcher, OKX founder Star said in a post on X that he supports the way Circle and Tether handled the suspected theft incident involving Binance, and called on exchanges, stablecoin issuers, and other industry participants to build an industry-wide security response mechanism.
Star said the sector needs a real-time alert system. If a hack occurs, participants should be able to share information immediately, coordinate a rapid response, and temporarily freeze suspicious funds before stolen assets are transferred or laundered.
He said speed is critical. In his view, the industry should set standardized procedures, define the responsibilities of each party, and add appropriate safeguards so incidents can be handled within minutes rather than hours or days. He also said protecting users and their assets should be a shared responsibility across the industry, not just the job of a single platform.
Earlier reports said Circle had worked with law enforcement to freeze more than 800 million USDC related to the incident, while Tether also froze multiple related USDT transactions.
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