#BinanceSafetyInsights

Software code is never bug free,” Binance’s chief executive, Changpeng Zhao, said in an interview with CNBC. He emphasized that no users had lost money in the hack but said that so-called cross-chain bridges were particularly vulnerable to hacks and the industry needed to get better at learning from them.

“We have seen a series of attacks on targeting vulnerabilities in cross-chain bridges,” Binance Smart Chain wrote in a blog post apologizing to users. “We will openly share the details of the postmortem and all lessons on how to implement more advanced security measures to shore-up these vulnerabilities.