OKX Founder Star: Calls for Industry to Jointly Develop Real-Time Security Response and Freeze Mechanisms

On October 30, OKX founder Star posted on X stating that he praised Circle and Tether’s handling of the suspected theft incident on Binance, and called on exchanges, stablecoin issuers, and other industry participants to collaborate in establishing an industry-wide security response mechanism.

Star proposed that the industry requires a real-time early warning system: in the event of a cyberattack, participants could immediately share information and coordinate rapid responses, while temporarily freezing suspicious funds before they are transferred or laundered. He emphasized that speed is critical, advocating for standardized procedures, clearly defined roles, and appropriate safeguards to ensure resolutions are executed within minutes rather than hours or days; safeguarding users and their assets should be a collective industry responsibility, not solely the duty of a single platform.

As TechFlow previously reported, Circle stated that it has collaborated with law enforcement to freeze over 800 million USDC associated with the incident, while Tether has also frozen multiple related USDT transactions.