Jimmy Song: Binance hack linked to protocol and address format decisions

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Hanna Syniavska

7 hours ago

Jimmy Song: Binance hack linked to protocol and address format decisions — Binance hack tied to protocol design

Jimmy Song, identified as a Bitcoin educator, developer, and entrepreneur, criticized Binance for a recent hack, attributing the incident to a poorly conceived protocol. He further described the protocol as being created by the same individuals who opted to exclude a checksum from their address format.

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Song has previously argued that central banks may eventually consider Bitcoin as better collateral than gold due to lower settlement friction. He has also suggested that investors could see better outcomes by buying bitcoin directly rather than relying on market timing strategies. His recent criticism of Binance follows a series of public comments on Bitcoin protocol design and adoption.

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