For the rest of 2026, 1/ I will not take part in any contest 2/ I will not debate with silly people 3/ I will not eat supper 4/ I will invest in more startups 5/ I will buy more blue chips 6/ I will buy more memes

Binance @cz_binance @heyibinance defended the situation well. But I think they can also do many things better. In my opinion, the team isn't ready for major problems. Here's why: 1/ In a multi-billion-dollar exploit, every second counts. The fact that the attacker triggered roughly 50 unauthorized transactions means the automated system failed to detect anomalous volume and instantly freeze the network. 2/ During the initial hours of a major exploit, a lack of clear, immediate communication creates panic. When users see funds moving on the blockchain before an official statement or withdrawal freeze is implemented, it creates the impression that the team is scrambling without a plan. 3/ A large portion of the "success" in containing this hack relied on external stablecoin issuers (like Tether and Circle) stepping in to freeze the assets on-chain, rather than Binance's own internal circuit breakers stopping the outflow at the source. 4/ Instead of stopping withdrawals first, they should stop deposits. Doing so during an active exploit presents severe trade-offs. If Binance's system had frozen everything automatically at 4:30 AM HKT instead of forcing their team to execute a delayed manual intervention at 6:00 AM, they could have salvaged nearly the entire multi-billion dollar sum internally. I could be wrong on this. This should be weighed properly 5/ Official statement only came out 10.30 AM. This should be done more timely, honestly. 6/ A multi-billion-dollar financial pipeline should never have a single point of failure where a single employee's machine can act as an unrestricted master key. The internal operations need to make changes. As much as I love Binance, I do not blindly follow. This is my 2 cents' worth. This is also a suggestion, food for thought.

Binance @cz_binance @heyibinance defended the situation well. But I think they can also do many things better. In my opinion, the team isn't ready for major problems. Here's why: 1/ In a multi-billion-dollar exploit, every second counts. The fact that the attacker triggered roughly 50 unauthorized transactions means the automated system failed to detect anomalous volume and instantly freeze the network. 2/ During the initial hours of a major exploit, a lack of clear, immediate communication creates panic. When users see funds moving on the blockchain before an official statement or withdrawal freeze is implemented, it creates the impression that the team is scrambling without a plan. 3/ A large portion of the "success" in containing this hack relied on external stablecoin issuers (like Tether and Circle) stepping in to freeze the assets on-chain, rather than Binance's own internal circuit breakers stopping the outflow at the source. 4/ Instead of stopping withdrawals first, they should stop deposits. Doing so during an active exploit presents severe trade-offs. If Binance's system had frozen everything automatically at 4:30 AM HKT instead of forcing their team to execute a delayed manual intervention at 6:00 AM, they could have salvaged nearly the entire multi-billion dollar sum internally. I could be wrong on this. This should be weighed properly 5/ Official statement only came out 10.30 AM. This should be done more timely, honestly. 6/ A multi-billion-dollar financial pipeline should never have a single point of failure where a single employee's machine can act as an unrestricted master key. The internal operations need to make changes. As much as I love Binance, I do not blindly follow. This is my 2 cents' worth. This is also a suggestion, food for thought.

Do not worry. Binance can support the bank run for sure. 1/ 1:1 Asset Backing: Binance maintains a strict Proof of Reserves (PoR) system. 2/ Simple Math: While the recent exploit drained a massive amount (estimated up to $5.7 billion), blockchain data reveals that the hacker's actual take-home loot was heavily mitigated. With $2.8 billion instantly frozen by stablecoin issuers, the true "unbacked" gap left in Binance's Ethereum reserves dropped to roughly 6% for that specific asset. 3/ SAFU Fund: Binance actively maintains the Secure Asset Fund for Users (SAFU), an emergency insurance fund valued at $1.2 billion. 4/ Historical Precedent: During the collapse of FTX in December 2022, panic caused users to withdraw over $6 billion from Binance in just 72 hours. Binance processed every single transaction smoothly without a liquidity crunch, proving their backend operational capability during extreme market stress.

For the rest of 2026, 1/ I will not take part in any contest 2/ I will not debate with silly people 3/ I will not eat supper 4/ I will invest in more startups 5/ I will buy more blue chips 6/ I will buy more memes