$BNB folks, an exchange really isn’t a wallet, but that doesn’t mean self-custody is safer in every situation. In this incident, Binance demonstrated an important advantage: its financial ability to reimburse its users. It had already been hacked in 2019 and used the SAFU fund to cover the losses. Now, in the face of a much larger attack, it has announced that it will cover the losses again. With self-custody, you control your keys, but you also take on all the risk. If your assets are lost in an attack, there’s no company to reimburse you. Ultimately, each model has its advantages and risks. The important thing is to understand that security isn’t just about controlling your keys, but also about being able to recover when something goes wrong.