Binance and OKX Bosses Trade Jabs Over User Losses

Binance co-founder Yi He hit again at OKX CEO Star Xu after he criticized the change’s account setup. She did so by sharing a dealer’s criticism about tokens caught on OKX.

The spat grew out of a single misdirected switch. Yet each side now level to flaws that left customers unable to recuperate or promote their funds.

OKX CEO Slams Binance’s User ID Model

The dispute started when a consumer on X blamed a “UID collision” for misplaced funds. A consumer ID (UID) is the quantity that identifies every change account.

Yi He rejected that declare on November 7, saying each Binance consumer holds one distinctive UID. The consumer had despatched funds to Binance Thailand, which runs a separate account system.

Star Xu then weighed in. In his view, consumer IDs below one model should both be globally distinctive, or UID-only transfers between websites have to be blocked.

“The purpose is easy: a UID identifies an account. If the identical UID can exist on completely different websites below the identical model, whereas customers are additionally allowed to switch funds between websites utilizing a UID, it may result in the flawed receiving account being recognized and funds being despatched to the flawed place,” said OKX CEO.

The Binance-OKX rigidity didn’t begin this weekend. On November 4, Xu accused Binance founder Changpeng Zhao (CZ) of deflecting blame after the latest hack.

He additionally criticized CZ for locating time to spar with Elon Musk through the disaster.

Who Pays When User Funds Go Astray?

Yi He’s reply got here the subsequent morning. She shared a dealer’s warning in opposition to utilizing OKX’s DEX mode for tokens on BNB Chain.

The Binance-OKX conflict lands at a delicate second. Binance continues to be recovering from the $6.3 billion hack, and on November 7 it said Chief Financial Officer Kaiser Ng is leaving.

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