Binance Hack: Crypto Needs a Shared Security Standard, Not Just Better Exchanges
The $6.3 billion Binance hack shows that security threats are no longer limited to compromised wallets or weak passwords. Social engineering, employee access and internal software vulnerabilities can expose even major crypto platforms. CZ has now called for an industry-wide security alliance, and I think that is worth considering. Exchanges should share threat intelligence and coordinate faster when stolen assets move across networks. Security cannot remain a competitive advantage that companies keep entirely to themselves. Should crypto exchanges be required to cooperate on security threats, even when they compete for the same customers?
