[Wu Blockchain News] CoinEx Founder: Binance Incident Exposed Three Entirely Avoidable Security and O...

CoinEx founder Haipo Yang said the recent Binance security breach stemmed from three avoidable operational failures rather than sophisticated technology. He cited a lack of strict isolation between development and production environments, with production access failing to run on dedicated hardware free of third-party software. Yang also flagged the absence of meaningful two-factor authentication, which let a single leaked credential compromise full production systems instead of hardware-bound MFA such as AWS Session Manager. Finally, he argued the MPC multi-signature setup existed in name only, as signers did not independently verify transactions and the scheme collapsed after a single node breach. The critique matters because it shifts blame for the incident toward operational discipline, and the next test is whether exchanges tighten environment separation, hardware-backed MFA and independent transaction validation.