Star Xu, founder and CEO of OKX, asserted that the security of no centralized exchange is invulnerable and that it is a mistake to promise absolute security. His statement comes in the wake of the recent $6.3 billion cyberattack suffered by Binance in late October, an event Xu described as an urgent wake-up call for the entire industry. The executive stressed that user protection must be a shared responsibility and not an advertising advantage.
The impact of this incident put technical infrastructure and emerging sector risks under scrutiny, including vulnerabilities associated with development using AI tools. In response to this scenario, OKX reinforced its internal audits, intensified the real-time tracking of stolen funds to prevent laundering through its platform or DEX aggregator, and adjusted its liquidity risk controls. Xu firmly criticized competitors who exploit others’ crises as a marketing strategy, emphasizing that security demands immediate technical cooperation and not commercial opportunism.
The crypto-asset industry now faces a transition toward coordinated response protocols and unified monitoring among exchanges.
Source: https://x.com/star_okx/status/2117282436107378890
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