Haciyev Reşit 
Changpeng Zhao (CZ), founder and former CEO of Binance, has warned the global crypto community about cybersecurity risks targeting Web2 applications. CZ emphasized that even open-source software, often considered secure, can be vulnerable to threats, highlighting Web3 technologies as a potential solution.
Critical Security Warning from CZ
In a statement on his official X account, CZ said:
Even open-source software is not safe these days According to him, even the most secure Web2 applications remain exposed to cyberattacks
Pointing to Web3 technology as a solution, Zhao explained that blockchain, smart contracts, and decentralization could redefine internet security. He concluded his message with:
“We are still early.”
Crypto Inheritance Mechanism
CZ also discussed a new service recently introduced by Binance. This mechanism allows the relatives of sick or deceased users to gain access to crypto assets on the exchange.
However, Zhao revealed that he personally tested the feature and was not satisfied with the user experience, stating:
“Direct feedback (as a user), this (UX) is terrible. It needs improvement.”
Why Web3 is Seen as a Security Solution
The centralized structure of Web2 creates vulnerabilities to cyberattacks, whereas Web3 offers stronger security layers through distributed networks, transparency, and smart contracts. CZ emphasized that Web3-based solutions could eventually become a standard not only in crypto but across the entire internet infrastructure.
CZ’s statements highlight both the security risks of Web2 and the potential of Web3. While Binance’s new features may need improvements in user experience, they are seen as critical steps for the future of crypto assets.
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