He Yi responds to user token transfer error issue: will compensate losses with personal funds, Binance payment transfer plans to add three confirmations.

BlockBeats news, November 8 - Binance co-CEO Yi He stated in a post that regarding an issue where a user transferred the wrong cryptocurrency while using two separate apps, Binance is legally unable to directly transfer funds from another person's account, and she will personally compensate the user for the losses caused by the mistaken transfer.

Yi He explained that due to historical compliance reasons, Binance has three completely independently developed local sites, whose product architecture and business forms differ from the main site, primarily focusing on local fiat currency trading. To prevent similar situations from recurring, the next step will be to add three confirmations in the Binance payment transfer process.

Additionally, Yi He stated that public discussion is the driving force for continuous iteration, and she hopes peers will pay attention to their own users just as they do to Binance. She invited users to offer product suggestions in the comments section, with the campaign lasting one week; the product team will select the 10 best suggestions, and each selected participant will be rewarded with 1 BNB.

Previously reported, on November 7, a community user posted claiming that Binance had a "UID collision," and that 11,398.77 USDT they transferred was lost, and accused the platform of refusing to cooperate with law enforcement. Yi He responded at the time that each user has an independent UID, and there is no UID collision. The user originally planned to transfer from Binance to Binance Thailand, but directly entered the UID instead of using an address or QR code, and did not carefully verify during the second confirmation.

Yi He also reminded that Binance's local platforms in Turkey, Thailand, the United States, and other regions do not share an account system, and when transferring across platforms or withdrawing funds, addresses and UIDs should be carefully verified.