Coinex founder Haipo Yang said Binance’s breach exposed three avoidable failures: work and personal computing were not fully separated, one credential could operate production services, and transaction signers did not independently check requests. Binance says the Oct. 29 breach drained about $6.34 billion from its hot wallets. The FBI attributed the attack to North Korea’s Tradertraitor group.
Binance says it had replenished 98% of the impacted assets with company funds by Oct. 31. Yang’s criticism comes after he announced in September that Coinex would shut down, citing security and compliance risks; withdrawals remain open until Dec. 22, 2026.
