OKX Star: Willing to Collaborate with Competitors to Jointly Raise Security Standards and Protect User Assets

BlockBeats news, November 4: OKX Star published a post criticizing an interview regarding a Binance security incident, arguing that the interviewee downplayed the platform's responsibility and attempted to justify its own mistakes by disparaging the security of traditional banks. He questioned the interviewee's claim of "no longer running Binance," calling the person one of the most active Binance-related figures on social media after the incident, and noted that the person had also argued with Musk over SpaceX stock investments.

Star stated that Binance repeatedly emphasized that "only 2% of funds flowed out," but this figure does not address concerns about platform security. He also questioned Binance's continued use of marketing campaigns to attract new deposits during the crisis, and pointed out that crypto platforms face different threats, attack surfaces, and potential consequences compared with traditional banks, and that comparing the security of the two without that context is misleading.

Star cited reports that Bitcoin fell from about $81,000 to $75,000 during the market turmoil, and said billions of dollars in leveraged positions were liquidated. He believes the incident may damage the crypto industry's credibility in the eyes of traditional capital markets, institutional investors, and regulators, and also calls into question Binance's claimed "multi-layered security defenses."

Star said he is more willing to work with industry participants, including competitors, to jointly raise security standards and protect user assets.