Changpeng Zhao’s Message to Crypto Community

Changpeng Zhao, frequently known as CZ, addressed his millions of X followers regarding the recent developments at Binance following the Bybit exploit, which resulted in the theft of billions of dollars worth of Ethereum.

He issued a crucial call to the entire crypto space about the cybersecurity of exchanges.

Binance Faces $3.9 Billion Weekly Inflows After Bybit Hack

The Chinese account of Binance on the X platform revealed that recently, the exchange experienced a remarkable single-week inflow of $3.971 billion. This amount was 10 times greater than the total inflows received by the other top nine exchanges, which was approximately $396.83 million, according to data from DefiLlama.

The report indicated that “market funds flow into Binance during uncertain times.” This massive inflow occurred in the week following the Bybit hack, where a significant $1.4 billion in Ethereum was stolen as the attacker attempted to launder the funds.

As reported by the analytics account Lookonchain on March 4, the unknown hacker successfully laundered the entire $1.4 billion worth of Ethereum they had stolen, totaling 499,395 ETH.

“Security First”: CZ’s Statement

For context, Binance’s monthly inflow in February was $5.323 billion, nearly equivalent to the influx during the recent week, whereas the remaining top nine trading platforms collectively saw $1.229 billion. Among them, Bitfinex received an inflow of $768.19 million.

> Security first. Link
> — CZ 🔶 BNB (@cz_binance) March 6, 2025

Over the past year, Binance’s net inflows exceeded $3 billion over a six-month period, with record-setting inflows of $9.2946 billion in November 2024.

In response to the recent developments, CZ emphasized, “Security first.” The last notable hack experienced by Binance occurred on October 4, 2022, when two million BNB, valued at approximately $570 million at the time, were stolen from the BSC Token Hub cross-chain bridge, which connects the BNB Beacon Chain (BEP2) and BNB Chain (BEP20).