OKX Star said crypto platforms should cooperate, including with competitors, to raise security standards and protect users after criticizing coverage of a Binance security incident.
Security comparison
Star argued that Binance’s repeated statement that only 2% of funds flowed out did not resolve concerns about platform security. He said crypto platforms and traditional banks face different threats, attack surfaces and consequences, making direct comparisons misleading.
Market and regulatory fallout
He cited reports that Bitcoin fell from about $81,000 to $75,000 during the turmoil and that billions of dollars in leveraged positions were liquidated. Star said the incident could hurt the industry’s credibility with traditional capital markets, institutions and regulators, while raising questions about Binance’s claimed multilayered defenses.
Source: BlockBeats English report, published Nov. 4, 2026.