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Binance’s CZ Issues Critical Security Call to Crypto Industry
In a recent tweet, Changpeng Zhao (CZ), the CEO of Binance, emphasized the importance of security in the cryptocurrency industry. His statement came as a response to the massive inflows seen at his exchange in February.
For comparison, Binance’s monthly inflow in February constituted $5.323 billion (almost the same amount that could be found within that single week), while the remaining top nine trading platforms saw only $1.229 billion come in. Bitfinex, one of the largest exchanges, saw an inflow of a significant $768.19 million.
This tweet is a stark reminder that security should always take priority in the cryptocurrency space. It’s no secret that Binance has faced its share of hacking incidents, including a notable breach in October 2022. On that occasion, two million BNB worth roughly $570 million at the time were drained from the BSC Token Hub cross-chain bridge.
Binance faces weekly inflows of $3.9 billion after Bybit hack
The significance of security has never been more evident than now as Binance is set to receive a whopping $3.9 billion in weekly inflows, following the recent Bybit hack.
Source: https://u.today/binances-cz-issues-critical-security-call-to-crypto-industry
