Binance founder CZ warns acquiring small crypto exchanges poses hidden security risks after BitMEX and BitMart shut down.
𝕏/@WuBlockchain •
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Promote with Leviathan NewsBitMart’s $196 million 2021 hot-wallet breach makes CZ’s case: an acquirer inherits wallet-signing infrastructure and any dormant compromise, not just users and licenses. BitMEX is the opposite edge case, closing after 11 years with zero funds lost to hacks; both exits still funnel custody and order flow toward Binance, which held roughly 55% of tracked CEX user funds in early July.
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