Yi He says she will subsidize users’ losses from sending coins to the wrong address with her personal funds
Binance co-founder Yi He posted on X on November 7 that, regarding a user sending coins to the wrong address between two separate apps, the law does not allow funds to be directly transferred from someone else’s account, and she will personally subsidize the user’s losses.
Yi He explained that, due to historical compliance reasons, Binance has three local sites that were developed completely independently, with product architecture and business models different from the main site, and they mainly handle local fiat trading. To avoid similar situations from happening again, the next step will be to add three confirmations to Binance Pay transfers.
At the same time, Yi He welcomed users to submit effective product suggestions in the comments section, and the best 10 suggestions will be selected within one week, with 1 BNB awarded to each person.
Original source:
Title: Yi He: Will personally subsidize users’ losses from sending coins to the wrong address; Binance Pay transfers are proposed to add three confirmations Publisher: ChainCatcher (citing Yi He @heyibinance X post) Date: 2026-11-07/08 URL: https://www.chaincatcher.com/article/2302726 Nature of source: news report (based on the original post) Verification status: This reading cites ChainCatcher and multiple media outlets’ references to Yi He’s original post; cross-checks the content of the X post Supporting content: Yi He’s statements on personal-fund subsidies, three confirmations, and rewards for product suggestions
ABAB AI Insight
Yi He’s post separates the legal restriction from the personal subsidy. The former refers to the platform being unable to directly transfer funds from another user’s account, while the latter will be covered by Yi He in her personal capacity.
The explanation of the independently operated local sites appears alongside the adjustment to the transfer confirmation process. The three local sites were independently developed for historical compliance reasons, differ from the main site in product architecture and business model, and mainly handle local fiat trading.
The product suggestion solicitation campaign offers a reward of 1 BNB and lasts for one week. This arrangement is presented alongside the adjustment to the transfer confirmation process, so the response to a single user loss and the follow-up product iteration measures are proposed at the same time.
ABAB News · Cognitive Law
The inability to directly transfer funds by law and the personal-funds subsidy are two separate matters.
The three local fiat sites do not share the main site’s account system.
The product suggestion solicitation campaign is proposed at the same time as the transfer’s three confirmations.