Binance co-founder CZ: Massive theft exposes serious security failures

Binance co-founder CZ said the scale of the recent hack implies a serious security failure, acknowledging that no platform is immune but that this does not excuse the breach. He framed the disclosed incident as the simplified account of an attack that appeared to span months or years, targeting hundreds of employees and systems before compromising a small number of targets. CZ, speaking as a shareholder, called on Binance to disclose the problem transparently, take responsibility, accept criticism and make substantive improvements, arguing that sharing details helps the wider industry learn. The intervention puts pressure on Binance to follow up with fuller disclosure; what to watch next is whether the exchange publishes more detail on the affected systems and the remediation it undertakes.