Hak Research

⚠️ Binance cross-platform transfer issue: from hacks to a UID system problem?

A user transferred funds from Binance Global to Binance Thailand. Instead of using a QR code, they entered a UID; the amount shown in the complaint image was 10,398.77 USDT. The money never arrived in Thailand and was sent to another account instead. The user alleged that UIDs had been duplicated and claimed Binance was not cooperating with the police to recover the funds.

Here’s how I understand it:

1️⃣ Binance Global, Thailand, Turkey, the US, etc. are independent platforms. They don’t share an account or UID system.

2️⃣ UIDs on two platforms can have the same number, but belong to different accounts. For example, person A has UID 123456 on Binance Thailand and sends 20,000 USDT from Binance Global using that UID—the funds still go to that UID, but it belongs to someone else on Binance Global.

Yi He responded: UIDs cannot have the same number within the same system; every Binance account has only one UID. This was a user error: to transfer between platforms, you must use an address or QR code, not enter a UID from the main exchange. Immediately after being contacted, Yi He and four staff members froze the funds. The recipient was not a scammer; they had simply received the funds by mistake and are currently inactive.

→ This also means that UIDs can have the same number across different versions of Binance. In an accompanying post, Yi He said legal constraints prevent the exchange from transferring money out of someone else’s account, but that she would personally compensate the customer who sent the funds to the wrong place.

My view: Binance should take more responsibility for this issue than the user. Many long-time users are still used to transferring funds by UID and don’t know that transfers between platforms require a QR code or address. The second confirmation step only checks that the UID number is correct; it doesn’t warn users that this is a cross-platform transfer. It should have asked them to confirm whether the destination was Binance Thailand, Turkey, or the US.

Have you ever transferred funds between different versions of Binance? Did you nearly run into this issue? 👇

#Binance #USDT #CEX

🔓 $MON is about to unlock nearly $300 million: Will Monad become a "deadchain" or does it still have a chance?

On November 24, 2026, Monad will see its first unlock for the team, investment funds, and Category Labs Treasury: approximately 16.6 billion MON (16.5% of the total supply), worth around $270 million, equivalent to about 140% of its current market cap.

The selling pressure is real. Every project has to go through this phase: some, like $SOL , $SUI , made it through successfully, while plenty of others have collapsed.

That said, the Monad ecosystem has had several bright spots recently:

1️⃣ Lens is coming to Monad as a fully on-chain social graph. It’s not groundbreaking, but it will make the ecosystem more diverse.

2️⃣ Visa is expanding its stablecoin payment network to Monad, meaning parties that use Visa services with stablecoins will be able to transact on Monad.

3️⃣ Tapping into the privacy trend with Monad Private Settlement Domains (PSD) for institutions:
• Businesses can manage on-chain funds and treasuries without revealing their positions, balances, or strategies
• Large-volume OTC trades and market making without exposing information
• Funds can keep their portfolios private while still accessing DeFi when needed
For everyday users, Monad is partnering with NullMask to enable private deposits, withdrawals, and transfers.

4️⃣ The Metropolis Global Hackathon, hosted by the Monad Foundation, brought together 1,256 participants, 885 teams, and 76 countries. This is Monad’s largest global hackathon to date, and we can expect more promising projects to emerge once the results are announced.

📊 On-chain snapshot (DefiLlama, 11/11): TVL ~ $952 million, stablecoins ~ $664 million, MON market cap ~ $193 million, FDV ~ $1.64 billion.

👉 My take: Monad has a better chance of becoming an impressive Layer 1 in the next cycle than a deadchain. But there’s no denying the immense selling pressure facing $MON as the unlock date draws near.

What do you think? Can MON get through this unlock? 👇

#Monad #MON #TokenUnlock #Layer1