Binance Founder CZ Criticizes Safe Over Security Incident
CZ criticizes Safe’s vague response to a hacking incident, questioning security issues and clarifying Binance’s asset management
- Binance founder CZ criticizes Safe for unclear explanations regarding a hacking incident.
- Questions remain about how hackers gained access to developer machines linked to Bybit.
- CZ clarifies that Binance does not use Safe to store assets.
Binance founder Changpeng Zhao (CZ) has openly criticized Safe for its vague and unclear response to a recent hacking incident. Safe, a popular self-custody wallet provider, has faced scrutiny following reports of unauthorized access to certain developer machines. CZ pointed out that Safe failed to provide a detailed explanation, raising concerns within the crypto community.
The security breach has left many unanswered questions, particularly regarding how hackers managed to infiltrate the affected machine. Additionally, there is growing curiosity about how developer machines had access to accounts operated by Bybit, another leading Crypto Exchange. This lack of transparency has sparked debates over security measures within the industry.
Binance founder CZ criticized Safe for using vague language to cover up the problem, and there are still a lot of questions that have not been answered, such as how hackers hacked into this particular machine and how developer machines accessed accounts operated by Bybit. In…
— Wu Blockchain (@WuBlockchain) February 26, 2025
Binance Denies Using Safe for Asset Storage
Amid the controversy, CZ took the opportunity to clarify that Binance does not use Safe to store its assets. This statement was likely aimed at reassuring Binance users and distancing the exchange from the security vulnerabilities associated with Safe. As one of the largest cryptocurrency exchanges in the world, Binance prioritizes high-security measures to protect user funds.
The incident highlights the critical importance of robust security protocols and transparent communication in the crypto industry. With trust playing a significant role in digital asset management, companies must address security issues swiftly and clearly to maintain user confidence.
