Security update from Binance CEO, following $40 million exchange hack42

Changpeng Zhao (“CZ”), the CEO of Binance, the world’s largest crypto exchange in terms of adjusted trading volume, has published a blog post in which he apologized for previously suggesting a chain reorg of the Bitcoin (BTC) blockchain.

Following a large-scale security breach of Binance on May 7th, 2019, which resulted in a loss of over $40 million in Bitcoin, CZ acknowledged that the “situation is tough” for the crypto community. He also noted that Binance’s management strives to “maintain the highest degree of transparency.”

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