CZ: Some Employees Failed to Follow Basic Security Procedures; This Mistake Shouldn't Have Happened Binance co-founder Changpeng Zhao (CZ) @cz_binance stated in an interview with Oxford Union on November 5th that some of the security issues in Binance's recent hack could have been avoided. He admitted that some internal employees failed to follow the most basic security operating procedures, a mistake that shouldn't have occurred on a platform managing such large sums of money. CZ stated that, according to his information, the attackers planned for approximately 5 to 6 months, making multiple attempts to infiltrate the company through fake recruitment, social engineering, and leveraging AI for rapid system analysis. He believes that stricter security procedures could have prevented many intrusion attempts, but the attackers only needed to find one vulnerability to breach the defenses, while the defenders had to find and patch all of them. Source: Oxford Union