OKX CEO Calls for Industry-Wide Security Alliance After Exchange Hacks

OKX founder and CEO Xu Mingxing has urged cryptocurrency exchanges to work together on security instead of treating it as a competitive advantage. His call follows a series of serious security breaches involving Bybit, Bitget, and Binance. In a public post, Xu proposed creating a joint security system similar to the industry alliance formed during the 2017 Bitcoin fork crisis. His proposal includes real-time settlements between verified exchanges and deliberate delays for large withdrawals to unfamiliar addresses. The recent security incidents involving Bybit, Bitget, and now Binance should serve as a wake-up call for every leader in the crypto industry.

Source: DeFi Planet