Binance CEO Chengpeng Zhao (“CZ”) has come under attack after appearing to advise crypto holders to store their holdings on exchanges instead of on personal storage devices like USB drives or hardware wallets.

In a tweet, Zhao appeared to infer that the risk of self-storage is significantly greater than the risk of storing cryptocurrency on “reputable” exchanges like Binance. Writing on January 15, he said:

Store coins yourself. You fight hackers yourself, and guard from losing wallet yourself. Computer breaks, USBs gets lost.

Store on an exchange. Only use the most reputable, proven secure, exchanges.

Or move to DEX, disrupt ourselves. https://t.co/Ci4ux9I3VD

— CZ Binance (@cz_binance) January 15, 2019

‘This Tweet Will Become a Meme’

Expectedly, the tweet came in for a barrage of criticism, not least because he actually posted it in response to news that Cryptopia, a New Zealand-based cryptocurrency exchange had just been hacked, with at least $2.44 million worth of ethereum (ETH) and $1.18 million worth of Centrality (CENNZ) transferred to several unknown wallets. While at press time it remains unclear whether hackers were behind the transfer or Cryptopia itself made the transfers for security reasons, Zhao’s Twitter mentions rapidly filled up with several negative responses.

Some of the responses were politely skeptical.

Why don't you promise insurance if you're so confidence with your exchange?

— Satoshi Reaper (@satoshireaper) January 15, 2019

Others were not so charitable.

When Binance gets hacked, this tweet will become a meme. 

TokenString

哈哈

可以交流，不错不错

TOK非常好未来赵超过以太坊不是梦

发现牛逼的地方了

未来区块链发展势不可挡

Oh~~~Great expectations

When to provide downloads, I come from London, wonderful expectations

倒计时等待，一个伟大的时刻!

激动人心，期待

TOK的APP升级后，币子都不见了，请问如何能够找回了呢？

备份的公钥和导出的备份密码有在话永不丢失！

只想说牛逼

现在还能挖矿吗？

send

Cards Accepted:

Copyright © 2019 © TokenString. ALL rights reserved
闽ICP备17009386号-2

C.H.N.