#BinanceSafetyInsights Decentralized finance, also known as DeFi, which uses code to control transactions, had vulnerabilities identified as a result of an attack on the Binance Smart Chain network. In an interview with CNBC, Binance CEO Changpeng Zhao stated that "software code is never without flaws." He mentioned that so-called cross-chain bridges were particularly vulnerable to hacks and that the industry needs to improve its capabilities to learn from them, despite emphasizing that none of the users suffered financial losses as a result of the breach.