Binance's He Yi responds to users' wrong crypto transfer incidents: will cover losses with personal funds, Binance Pay plans to add three confirmations for transfers.

Binance Co-CEO He Yi posted that in response to a user’s mistake of transferring crypto to the wrong account while using two separate apps, Binance is legally unable to directly transfer funds from another party’s account. She will use her personal funds to compensate the user for the loss caused by the wrong transfer. He Yi explained that due to historical compliance reasons, Binance has three fully independently developed local sites, whose product architectures and business models differ from the main site and mainly focus on local fiat transactions. To prevent similar incidents from recurring, Binance will add three confirmation steps to its payment transfer process. Additionally, He Yi stated that open discussion drives continuous product iteration, and she hopes industry peers will pay as much attention to their own users as they do to Binance. She invited users to submit product suggestions in the comment section for a one-week event; the product team will select 10 best suggestions, with each selected user receiving 1 BNB as a reward.