A dispute between Binance co-founder Yi He and OKX CEO Star Xu over user account identification has intensified following a misdirected transfer that left a trader unable to recover funds. The exchange leaders traded public criticism on X, each pointing to flaws in the other's system.
OKX CEO Criticizes Binance's User ID Model
The spat began when a user on X blamed a "UID collision" for lost funds. A user ID (UID) is the number that identifies each exchange account. Yi He rejected that claim on November 7, saying every Binance user holds one unique UID. The user had sent funds to Binance Thailand, which runs a separate account system.
Star Xu then weighed in. In his view, user IDs under one brand must either be globally unique, or UID-only transfers between sites must be blocked.
"The reason is simple: a UID identifies an account. If the same UID can exist on different sites under the same brand, while users are also allowed to transfer funds between sites using a UID, it can lead to the wrong receiving account being identified and funds being sent to the wrong place," said the OKX CEO.
Background of the Binance-OKX Tension
The Binance-OKX tension did not start this weekend. On November 4, Xu accused Binance founder Changpeng Zhao (CZ) of deflecting blame after the recent hack. He also criticized CZ for finding time to spar with Elon Musk during the crisis.
Who Pays When User Funds Go Astray?
Yi He's reply came the next morning. She shared a trader's warning against using OKX's DEX mode for tokens on BNB Chain.
The Binance-OKX clash lands at a sensitive moment. Binance is still recovering from the $6.3 billion hack, and on November 7 it said Chief Financial Officer Kaiser Ng is leaving.
