On Friday (May 10), Binance Co-Founder and CEO, Changpeng Zhao (aka “CZ”), talked about some important changes for improving security that are currently being made at the crypto exchange following the major security breach on Tuesday (May 7) that resulted in a loss of over 7,000 BTC from its Bitcoin hot wallet.

AT 08:00 UTC on Friday, CZ provided the following “security incident update”: