OKX founder calls for the establishment of an industry-wide real-time security response mechanism
OKX founder and CEO Star Xu posted on his X account on October 29, 2026, citing Circle CEO Jeremy Allaire’s post about freezing more than $800 million in USDC, and said that it was well done. He said that the crypto industry, including exchanges and stablecoin issuers, should work together to build an industry-wide security response mechanism.
Star Xu proposed the need for a real-time alert system so that participants can immediately share information and coordinate a rapid response when a hacking incident occurs, and temporarily freeze suspicious stolen funds before they are transferred or laundered. He stressed that speed is crucial, and that standardized protocols, clear responsibilities and appropriate safeguards should be established so that action can be taken within minutes rather than hours or days. Protecting users and their assets should be a shared responsibility of the entire industry.
Original source:
Title: Great job. The crypto industry, including exchanges and stablecoin issuers, should work together to build an industry-wide security response mechanism... Publisher: Star_OKX (@star_okx) Date of publication: 2026-10-29 URL: https://x.com/star_okx/status/2115933916897120323 Source type: Original post by exchange founder Verification status: The full post and the Jeremy Allaire post it cited (2026-10-29) were actually read in this report Supporting content: Core proposal to establish a real-time alert system and coordinate the freezing of suspicious stolen funds
ABAB AI Insight
The post was made against the backdrop of stablecoin issuers separately freezing large amounts of USDT and USDC after a potential Binance security incident. The current freezes mainly rely on each issuer’s independent blacklist capabilities and post-incident coordination, rather than a pre-established cross-platform real-time sharing mechanism.
Star Xu’s proposal focuses on post-incident information sharing and temporary speed controls, rather than changing each platform’s own security architecture. Industry cooperation attempts such as Beacon Network have already existed, but a unified real-time response standard covering all major exchanges and stablecoin issuers has not yet taken shape.
The observation indicators are whether specific participants respond and advance protocol development, as well as the actual response time for cross-platform freezes in subsequent security incidents.
ABAB News · Cognitive Law
The speed at which funds are restricted in security incidents depends on stablecoin issuers’ independent technical capabilities, rather than a cross-platform unified response system.
Proposals for industry-wide real-time alert and freezing mechanisms usually appear after a large-scale incident has already occurred and some freezes have already been completed.