CZ: Some Employees Failed to Follow Basic Security Procedures, This Shouldn't Have Happened Binance co-founder Changpeng Zhao (CZ) @cz_binance said in a November 5 interview at the Oxford Union that parts of the recent Binance hack could have been prevented. He admitted that some employees failed to follow basic security procedures, calling it unacceptable for a platform handling such large amounts of money. According to CZ, the attackers spent five to six months planning the hack, repeatedly attempting to infiltrate Binance through fake job interviews and social engineering, while using AI to analyze its systems. He argued that stronger security procedures could have stopped many attempts. Attackers only need to find one vulnerability, while defenders must identify and fix them all.