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CZ: a hack of this scale means "serious security failures occurred"; as a shareholder he expects Binance to be transparent and take responsibility
A hack of this scale means serious security failures occurred. No platform is unhackable, but that cannot be an excuse. Every incident exposes weaknesses that should have been prevented. Some details are embarrassing. Public explanations also simplify what appears to have been a prolonged multi month/year attack targeting hundreds of employees and systems, with a few ultimately compromised. Sharing those details, however uncomfortable, helps the wider industry learn. As a shareholder, I expect Binance to be transparent about what went wrong, take responsibility, learn from all criticism, and make meaningful improvements. 🙏
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