Star Xu Calls for Exchanges to Coordinate Security After Binance Breach

A Binance hot-wallet incident with an estimated $6.3 billion impact has prompted OKX founder and CEO Star Xu to urge crypto exchanges to coordinate defenses and tighten transaction checks. In a post published Monday, Nov. 2, at 10:47 a.m. ET (15:47 UTC), Xu grouped security incidents involving Bybit, Bitget and Binance as a warning for the industry. “No system is absolutely secure,” he wrote. Xu outlined real-time settlement among verified exchanges, extra checks or delays on large withdrawal requests headed to unverified addresses, added review of transactions granting smart-contract permissions, plus safeguards during cryptographic signing, shared incident warnings, suspicious-fund tracking…