Yi He: Binance Put Security First Before Reopening Withdrawals, Unlike Platforms That Vanish Without Explanation

Binance co-founder and co-CEO Yi He said the exchange’s top priority after its security incident was to make sure its environment was secure before allowing users to withdraw and resuming normal operations. “Every action has a motive,” she wrote on X, contrasting Binance’s approach with fraudulent exchanges and P2P platforms that collapsed in the past. Such platforms, she said, kept opaque ledgers and shut down without warning, leaving users with no way to know how much money was in their accounts or where it went, with no one explaining what happened and withdrawals never reopening. Binance has published regular updates since the incident, shared details of the attack, released a new Proof of Reserves snapshot and replenished 90% of the affected assets. Withdrawals reopened in phases on Sunday, November 1.