WuBlockchain
Binance founder CZ said he publicly recommended pausing withdrawals after the Bybit hack to guard against further abnormal fund outflows. Speaking in a September 25, 2026 interview with When Shift Happens, he described the recommendation as a cautious security measure.
CZ acknowledged that a pause could disrupt trading and inconvenience users, but said security risks should take priority. Bybit did not pause withdrawals, and no further issues occurred. For CZ, the outcome illustrated why the decision depends on assessing the risk at the time rather than applying an absolute rule.
Frequently asked questions
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What risk was CZ trying to address with a withdrawal pause?
He said a pause was a cautious measure to prevent further abnormal fund outflows after the Bybit hack.
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What drawback did CZ acknowledge?
He acknowledged that suspending withdrawals could disrupt trading continuity and inconvenience users.
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Did Bybit pause withdrawals after the hack?
No. Bybit kept withdrawals open, and no further issues occurred.
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Did CZ say Bybit made the wrong decision?
No. He said there is no absolute right or wrong approach in such situations and emphasized risk assessment.
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Where did CZ explain his recommendation?
He discussed it in a September 25, 2026 interview with When Shift Happens.
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