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📢 CZ_Binance [retweet] | 🕒 2026-09-27 18: 55: 55 🔗 [Source]
🇨🇳 RT @web3annie: CZ @cz_binance: If it were me, I would also recommend suspending user withdrawals!
Hitting the brakes first when something goes wrong is instinctive.Bybit was hacked last year 1500000000 USD，CZ recommended suspending withdrawals, but Ben did not listen, 24 within hours, there was a bank run that withdrew 50 more than USD. A bank run is a minor matter; the most important thing is to eliminate the risk of a second wave of attacks. Fortunately, there was none.
No incident ≠ no risk.CZ publicly called for support for the suspension at the time. Essentially, as the industry's leading player, it was taking a stance, giving the other party a get-out-of-jail-free card and helping it share the community's anger and public-opinion pressure.
Binance 19 was also hacked in 40000000 USD. During the 1 weeks of downtime, he rebuilt the underlying architecture from scratch, migrating directly from self-hosted servers to serverless, and also activated SAFU to fully cover users' losses.
Security comes first! Anyone at an exchange who identifies a major security risk should have the authority to call an immediate halt with one click. Even if this temporarily compromises user experience, all subsequent risks must be fully eliminated. 🇺🇸RT @web3annie: CZ @cz_binance: If it were me, I would also recommend suspending user withdrawals!
Hitting the brakes first when something goes wrong is instinctive.Bybit was hacked last year 1500000000 USD，CZ recommended suspending withdrawals, but Ben did not listen, 24 within hours, there was a bank run that withdrew 50 more than USD. A bank run is a minor matter; the most important thing is to eliminate the risk of a second wave of attacks. Fortunately, there was none.
No incident ≠ no risk.CZ publicly called for support for the suspension at the time. Essentially, as the industry's leading player, it was taking a stance, giving the other party a get-out-of-jail-free card and helping it share the community's anger and public-opinion pressure.
Binance 19 was also hacked in 40000000 USD. During the 1 weeks of downtime, he rebuilt the underlying architecture from scratch, migrating directly from self-hosted servers to serverless, and also activated SAFU to fully cover users' losses.
Security comes first! Anyone at an exchange who identifies a major security risk should have the authority to call an immediate halt with one click. Even if this temporarily compromises user experience, all subsequent risks must be fully eliminated.
💰 Market capitalization CZ MarketCap: 2.5M