# OKX CEO Star Xu Criticizes Changpeng Zhao’s Response to Binance Breach

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/48774
Published: 2026-11-04T20:23:26.000Z
Updated: 2026-11-04T20:23:26.000Z
Section: Technology

> Xu urged exchanges to cooperate on security as Binance said it had replenished about 98% of the amount affected by its Oct. 29 incident.

OKX founder and CEO Star Xu criticized Binance co-founder Changpeng Zhao’s response to the exchange’s Oct. 29 security incident and urged security cooperation as Binance said it had replenished about 98% of affected assets.

Xu made the appeal in a post at 8:48 p.m. ET Nov. 3 (1:48 a.m. UTC Nov. 4). He urged exchanges to coordinate on security and wrote, “I genuinely don’t want to criticize a competitor during their crisis,” Xu wrote.

He had previously called for exchanges to coordinate security defenses and tighten transaction checks.

In a video interview published Nov. 3, Zhao said, “There’s no 100% security,” and said attacks can target “every crypto platform, every wallet service, every bank.” His comments described hacking risk across financial institutions but did not compare the relative security of banks and crypto exchanges.

Binance’s preliminary assessment put affected assets at about $6.34 billion and funds frozen or intercepted at about $2.85 billion. The exchange said both figures remained subject to reconciliation and market-price changes. The affected-assets estimate is distinct from the amount of funds frozen or intercepted.

Binance’s preliminary account put replenishment at about 98% as of Oct. 31, and its Nov. 4 update again said it had replaced about 98% of the impacted amount. The exchange also said it had set aside more than 100% of the funds needed to cover losses and was still buying the less-liquid remainder, a process that could take longer. Replenishment means Binance replaced assets; it does not mean the stolen tokens were recovered from the attackers.

Binance described a multistage attack involving a fake recruitment approach, malicious downloads, compromised employee devices and access to an internal wallet-signing service. The company said its investigation was ongoing and its findings would receive independent review.

The Federal Bureau of Investigation said North Korea was responsible for stealing more than $6 billion from Binance on or about Oct. 29 and identified the activity as TraderTraitor.