Binance’s CZ issues critical security calls to the crypto industry

Changpeng Zhao, often known as CZ, commented to millions of X-followers to comment on the recent situation Bit faced after the exploit of Bit after millions of dollars worth of Ethereum was stolen.

He issued a critical call across the crypto space on exchange cybersecurity.

Binance faces a weekly influx of $3.9 billion after the Buybit Hack

Chinese Vinance accounts on the X platform recently shared that exchanges have faced a massive influx within a week. This is 10 times more than the other top nine exchanges received in total over the same period. These exchanges received approximately $396.83 million. Defillama provided data on this.

“Market funds flow in two directions at uncertain times,” the report said. The massive influx above happened the week after Bybit was brutal hacked when $1.4 billion in Ethereum was released as hackers tried to wash the stolen Ethereum.

According to an X post published by Analytics account LookonChain on March 4, the unknown hacker was able to wash all of the $1.4 billion that Ethereum, 499,395 ETH, was stolen.

“Security First”: CZ ​​says

For comparison, Binance’s monthly inflow in February accounted for $5.3323 billion (almost the same as within that week), with $1.229 billion on the remaining top nine trading platforms. Bitfinex, one of the biggest exchanges, saw $768.9 million inflows.

Over the past year, Binance’s net inflow exceeded $3 billion in six months, reaching $9294.6 billion in November last year. This was a record high set by Binance in 2024.

Commenting on the tweet, CZ said: Binance was last hacked on October 4th, 2022. At the time, 2 million BNBs were worth around $570 million from the BSC token hub cross-chain bridge. The BNB beacon chain (BEP2) and the BNB chain (BEP20) have been connected.