Binance founder CZ warns against complacency in security practices

Changpeng Zhao says long stretches without a hack breed dangerous comfort and wants an industry alliance to share defenses Changpeng Zhao has a warning for crypto companies that haven’t been hacked in a while: that quiet stretch may be the problem. The Binance co-founder and former CEO said firms can grow complacent about security. He called for an industry-wide alliance to share practices and stop breaches before they happen. The timing is pointed. His comments follow the October 29, 2026 breach at Binance, in which approximately $6.3 billion in digital assets was stolen. The incident has been described as the largest recorded crypto theft. What CZ is actually saying CZ’s core argument is about human nature, not code. Companies that go a long time without an incident tend to relax their guard. He also argued that every hack is preventable if enough resources go into defense. His proposed fix is collective. CZ wants an industry-wide security alliance that would share best practices, conduct audits, and coordinate rapid responses when incidents hit. How the Binance breach unfolded The attack was linked to a campaign by North Korea’s TraderTraitor group. It did not start with a flash...