HIGER|Oct 31, 2026 13:51
Following this incident, Binance needs to seriously examine its problems. As the world's largest exchange, Binance is essentially supported by millions of retail investors, which is why Binance places such importance on its community.
However, from the record-breaking $19 billion liquidation last October to the current $6.3 billion theft, also a record-breaking event, this is severely inconsistent with Binance's status as the world's leading exchange.
I admire CZ's entrepreneurial journey and have always used Binance as my primary exchange for trading and storing assets. Seeing my wife working so hard during her pregnancy to handle the current difficulties also breaks my heart. But as the exchange most loved by retail investors and a leading company in the entire crypto industry, Binance must take heed of these consecutive incidents!
This hacking incident at Binance is an industry-wide event. No one can stand idly by, nor should they ridicule or even criticize it. This is an issue that the entire industry needs to consider and address together.
It's fair to say that if the crypto industry continues to struggle with these kinds of events, it will be difficult for the industry to be accepted by mainstream finance and its long-term sustainability will be limited.
Of course, from the perspective of the decentralized spirit of blockchain, these issues might be overlooked, but from the investment perspective of each participant, they are unavoidable.
We have every reason to believe that Binance has sufficient resources to cover these losses, so whether withdrawals are opened a day earlier or later isn't my concern. But what about the future? If this continues, the crypto space will cease to exist.
Some people who make money might attribute it to their own abilities in the market; those who lose money might blame bad market conditions or their own lack of skill. There seems to be an invisible hand in the crypto market, but if this hand continues to drain the market's funds, then it will become a graveyard for all retail investors.
Although I've been in this industry for 10 years and have witnessed Binance's continuous growth and development, I'm neither a die-hard fan of Binance nor CZ. However, as a participant in this industry, and even someone who has always considered themselves an entrepreneur and builder, these are my honest thoughts. I hope Binance can shoulder its responsibilities and mission and not let down the support of every user.
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