According to Lianhe Zaobao, in response to Binance’s recent theft incident, a spokesperson for the Monetary Authority of Singapore said on November 5 that cryptocurrency trading is generally unsuitable for the public. Consumers should exercise caution and avoid dealing with unregulated companies. MAS reiterated that Binance is not authorized to provide regulated financial services in Singapore; even when trading through a licensed company, regulatory measures cannot completely prevent losses arising from the inherently high risks of cryptocurrencies.