JackYi: Binance's profits are sufficient to cover the losses from the hack; the core issue is how t

JackYi, founder of Liquid Capital, said Binance's profits are sufficient to cover the losses from its recent hack, with asset security and liquidity intact, making the situation fundamentally different from the FTX collapse. Writing on November 2, he argued the core issue now is how exchanges, including Binance, can prevent a second breach, warning that in the AI era hackers' offensive capabilities may have outpaced exchanges' defenses and that attackers may have planted hidden backdoors in exchange systems. He called on exchanges to publish detailed, credible security plans to users. The comments come as markets weigh whether the incident is contained or signals broader systemic security risk across centralized exchanges. Watch for Binance's disclosure of loss figures, reimbursement details, and any published security audits or remediation plans.