The public dispute between Binance and OKX leadership intensified following a user complaint regarding lost funds. The conflict originated from a misdirected transfer, which led both sides to highlight potential security flaws in their respective account systems.
The disagreement began on November 7 when a user on X reported a UID collision. Binance co-founder Yi He stated that every Binance user possesses a unique UID and clarified that the user had sent funds to Binance Thailand, which operates on a separate system.
OKX CEO Star Xu argued that user IDs under a single brand must be globally unique to prevent errors during transfers. He suggested that if UID-only transfers are permitted between sites, the system must block duplicate IDs to ensure funds reach the correct destination.
The tension between the two exchanges has been building for several days. On November 4, Xu criticized Binance founder Changpeng Zhao for his public conduct during a recent security crisis. In response, Yi He shared a warning from a trader regarding the use of OKX DEX mode.
This exchange of criticism occurs as Binance manages the aftermath of a $6,3 billion hack. Additionally, the company announced on November 7 that its Chief Financial Officer, Kaiser Ng, is departing from his position.
