Bitcoin Forum

And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously.  :)

There is no serious volume in DEX. Maybe, some days we can see DEX will be useful, usable and preferred. But not today...

DEXes are obviously more of an ideal, but thus far decentralized exchanges either lack user-friendliness or volume. I believe scaling solutions will be a prerequisite for their success. For example, OmiseGo is working on Plasma. EtherDelta and IDEX aren't bad, but they are not good enough just yet.

unfortunately i don't think this is true :(
you see this is not the first time a hack of this magnitude has happened in the altcoin market where a gigantic exchange (the number one exchange) gets hacked and people lose their money. in fact that is why every couple of years the "number 1" exchange changes.
and each time a hack like this happened in the past people get excited to switch to DEX and they don't do it in the end and only switch to another CEX and lose their money all over again.

Yes. I also see the potential of DEX for trading in the future. Maybe most people doesn't use it for legal reasons? I don't really know anything about the other country but in mine, we are able to freely trade without any problem. Personally I prefer DEX because it's faster and doesn't have that much risk to use.

Even though they had been compromised the users, did you know that the funds of the users are safe? So you got nothing to worry about the exchange.

Next time the SAFU fund will not be enough  ;)

I don't have any idea about decentralized exchange especially after I read the news about binance getting the hack.
I still prefer to use binance for my trade, and I still use the other exchanges because I believe that every exchange will do many things to prevent the worst thing that might happen to their site.
Besides that, I am sure that every exchange will protect their site plus their members account so the hackers cannot penetrate to every member account.

But after hacking it is worthwhile just once again to think about how to protect yourself from hackers. And remove all KYC from this forum. That would not only blow once the opportunity for hackers as well as you. Privacy is the key to success.

I agreed that IDEX aren't bad and base on my observation this decentralize exchange platform is much more better to use rather than Etherdelta.
Honestly speaking, because etherdelta for me is the most dangerous DEX I've ever seen. Why? this is the only exchange that before you can their platform, you need to import your ETH address together with your private key, isn't that is too dangerous while IDEX is not like that.

Check out our exchange : )

We really need to invest  more on security, am not saying that binance has not done enough on security, it's actually a day to day affair, it's as serious as that. I salute Binance reputation in this industry. As for Dex, some persons may find it not very easy and friendly to use. I do assist some of my group members in trading in some dex, this is because I understand how it works. Some projects are building hybrid exchange, all these are geared towards good experience.

Why are you so surprised by this incident? it is not only Binance who has experienced the incident. even some of the great exchargers had previously experienced the event. but in reality similar types of exchanger are still chosen by traders.

I have no business with dex, I still stick to centralized exchanges and I hope security are strengthened to ensure the safety of users funds

Suggest IDEX they trade a good list of coins
https://www.coingecko.com/en/exchanges/idex

There is pretty much only one serious decentralized exchange. BisQ. And even they dont have fully decentralized disputes yet.   sing centralized exchanges is way simpler. That is why are still more popular.

Its true that DEX may be safer than any CEX but its just not easy working with it not to mention volume. I have never seen any decentralized exchange that had enough volume to cover one dump of more than a million which the market needs to provide. While we can use DEX from time to time, these CEX won't disappear for us to leave to shutdown just because of they are hackers target.

I was thinking that you wanted to make a good point but nope you didn't. Even decentralized exchanges can be compromised. The volume rate on decentralized exchanges are not good at all and can't boast the crypto market

Now a days this kind of news are not new and are very often.
2013 (Silk Road)
2014 (MtGox, Cryptsy, Mintpal)
2015 (Bitstamp, Bter)
2016 (Bitfinex)
2017 (Nicehash)
2018 (Coincheck, BitGrail, CoinSecure, Coinrail, Zaif, MapleChange, Pure Bit)
2019 (HitBTC, Cryptopia, Coinmama, Binance)
(courtesy:-https://blog.saturn.network)
and so on.
I think its time to apply diversification on exchanges also. Keeping our investment in different exchanges  can at least minimize the losses. Another well known solution is to store in hardware wallets.
Few days ago, I just came across one of the new project called Inzura which is with new concept of "Insurance of cryptocurrencies".
I think we need more such concepts in the market to avoid the situation along with regulations.

Binance announced that they are going to refund all the lost amount so it is not going be a big concern for the people to choose other exchanges.

I don't think this's all about Refund or Not. It's all about "safety" while we trade.
And Yes, absolutely agree this's not big concern (in binance case)

---

Both Centralized and Decentralized have good and bad sides, and I think depends on us to assess which one is better

I think that this should have happened, because today we understand that a lot of exchanges were hacked, but Binance was not hacked earlier, so they did it now, this once again confirms the idea that there is nothing 100% guaranteed.

If you don't store many coins on your exchange account also decentralized exchanges should be ok.
You have always to note that exchanges can be hacked and if you have all your coins there it's clear that it won't be a wise decision.

Binance was hacked in the past but they did refund all damaged accounts (funds were safu)

Some probably will but it doesn't mean that most will consider DEXs. People are looking for security and wanting to have a better service and it's okay for them to use centralized exchanges because they have a nice support that they can address issues that they might experience in the future. There are people that prefer to get in to DEXs than centralized one and I'm neutral on this. Op can you tell us why you think that more people will seriously consider DEXs just because of the recent hack?

Yes, DEX sometimes has some advantages. It remains to solve issues with liquidity and cross-blockchain.
I like IDEX: relatively good liquidity, a reward for trading every quarter.

Sad news. I think we should not play off such hack. We all must come together to seek ways to end such incidents. One thing I am not understanding is that hacking of crypto exchanges have occurred in the past too. Is not there strong way to protect funds in exchanges so hackers cannot penetrate? As such incidents have happened and are happening, all exchanges and holders should be aware enough, and keep their assets safe.  

If Binance really protects their users from any loss regard this hacking I think there isn't any problem with this exchange. They said the amount hacked is only 2% of the total btcs the exchange has on their control. They can keep their reputation and recover this loss really fast.
I don't think this story is going to compromise decentralized exchanges, they offer a good service and if something goes wrong, users can appeal to authorities to punish the exchange, what I suppose doesn't happen in peer to peer exchanges.

Definitely the point, haven the victims to be rewarded according to their looses means alot to their esteem customers. No other exchnage has though it wise to compensate their victims the way Binance are going about it, so, people will still embrace Binance.

If volumes appear on decentralized exchanges, they (exchanges) will also be hacked. Or there will be attempts to deceive users of such exchanges (fishing). But in this case, there will be no hope of compensation for damages to the victims.

After the Binance hack event, the deposit and withdrawal procedures were closed. With the explanation of the CZ rollback, it scared investors more than hacking.

Decentralized exchanges is cool if the issue of liquidity and interoperability can be solved but without getting solutions to them, decentralized exchange will continue to be second option to traders

It seems like a way to anticipate temporarily so that there are no transactions for a while. It seems like the time set is 1 week can not make withdrawals and deposits. Just believe and believe in Binance, everything will be resolved, of course.

I think after such a problem the large exchangers will lose trust. The quantity of the stored cryptocurrencies on balance will become much less. Many already look directly at the exchanges with small daily volumes of trade.

Maybe they were able to cover the loss from hacking but what if losses were made to a significant degree. Would binance would still be able to cover up the losses? Tricky isn't it?

There can be much more difficult situation like this and damage to a greater degree and in that scenario I hardly think they would be able to cover the losses completely.

There's no indication of that yet and binance still working with how they will resolve this issue and not to let their name/business being compromise, they are working and looking on how those coins that's being hacked will be paid and let the traders to keep the trust and continue using the exchange.

Decentralized exchanges have always been considered safe because funds are not held and traders are in control of  their private key. Asides the usability of DEX, I am still trying to figure out why its unpopular among traders

I hope so, because they are much safer than centralised exchanges. However, it does not have any influence on Binance users, because they will cover all loses from their fund, so no worries. But I believe this fact will move investors towards decentralised exchanges.

Any exchange can be hacked if users visit phishing sites, and enter their data, they will lose their coins from account and if they not have extra security exchange can't do nothing, always check the link when go to exchange.

The hack at Binance is a big blow to the crypto industry since most people like myself believed that Binance exchange was secured and could not be hacked. Yeah and i also think it's high time we really look in the development of Decentralized Exchanges. There are a couple of decentralized exchanges that are doing quite well in the industry and have not experienced any form of security issue before. Decentralized exchanges have to be given some level of thought.

I think there is a very low risk of huge losses happen. Exchanges are very cautious about their funds, the biggest part of it must be stored in a safe place (maybe cold wallet), or splitted among several places to reduce risk.
But if it happened, the exchange customers would want punishment for exchange owners at least. It wouldn't finish well for platform users, with irrecoverable losses, but it would finish even worse for platform owners. That is another reason why I think exchange owners wouldn't let it happen.

Nope! They wont still consider or do fully switch up with Dex's inspite of the hack or compromised of one of the best exchangers as of this day they wont still switch fully.
Good thing that Binance do still able to handle the situation but i really doubt that confidence even on the best current exchange would be lessen which is normal.Even I, do already have that kind
of doubts but still if you do just stick with the primary rule on never ever store your funds on exchange wallets then you shouldnt worry too much with these scenarios.

It was shocking to me, I had a deep respect for Binance about security. But they failed to keep it deserving. Not sure how their DEX could be secure, but we never should hold funds in an exchange wallet. This is another warning for people who prefer online wallets. Don't take risk of your valuable assets. I still support binance, stay safe.

Decentralized exchange would be great but there is a possibility for creator to wrongly write a contract (only a little possibility). The bigger problem is to exchange coins cross-chain, it's gonna be hard to trade Bitcoin with other cryptocurrency though as they are in different blockchain.

People love to talk about decentralized exchanges but they are not curious to trade there. Because whenever a decentralized exchange comes, they always have low volume than centralized! Within 5 months, we have seen how centralized exchange like cryptopia, bithumb, binance, dragonex got hacked! And, the decentralized exchange has lack of hack fear. I really hope to see everyone starts trading in Dex than Cex!

We can't ignore the centralized exchange but at least people should trade altcoins in decentralized exchanges, it is a lot safer than centralized, isn't it? Decentralized exchanges should have bigger volume than now. Binance CEO said big exchange wallets are safer than hardware wallet, so store your coins there. What now? But still people don't bother, we always support centralized exchanges over DEX!

All this hacks are major threats in the crypto world and we need to attend to it urgently. It's now certain that's its not safe to store your funds on a centralised exchange. Individuals needs to equip themselves with hardware or paper wallet to be safe. You can also store your cryptocurrencies in wallet where you have the private key.

I think so since it doesn't really affect the price of Bitcoin after the incident but just wondering if the hacker could take a lot of crypto on their exchanges. What would they do to cover up those lost cryptocurrencies from their customers? If you think about decentralized exchanges they can't stand alone because it's a lot more hassle than you think especially if there's fiat involve.

Yeah I agree with you yes IDEX aren't bad and also not good enough as of now, but is good for long term hold for sure in the near future they follow to the top rating coins in the market cap.

Not sure about that because people are only moving towards another exchange site or even not. Look at the market and we can try to take a look at the daily trade volume because it has represented the volume and demand. It looks like there was on a lot of increase in the demand of DEX . that means if people are not considering it as alternative way to trade.
People are still putting their focus on centralized exchange site.

It's not a big blow and the price is showing it by going up instead of down. It's a big blow to Binance but crypto remains unaffected. There's a chance the money is lost and there was no hack but an attempt to move the coins to a segwit address. If this is true Bitcoin became even more scarce and more valuable.

Decentralized exchanges aren't popular yet but they will be. The risk is too high and even the biggest exchanges can be hacked there's no safe way to exchange if this includes giving away your keys.

I think Decentralized exchange won't guarantee that your coin will be safe if you using it.
Phishing in DEX website is still possible to happening, so both centralized and decentralized exchange still not safe 100%.
Binance hack case is the worst hacking case in this year i guess.

This is the biggest attack this year and Binance is too subjective in security. I believe that after this case is over, Binance will have more security processes and we will be safer in this market. Now the deposit and withdrawal in Binance is postponed but it will be back soon in the next week so don't worry too much because Binance has a great support policy for everyone.

It is no use for binance or another exchange to invest heavily in security, if the weakest link in the "user" process does not perform good practices for any kind of access.

The user should pay more attention to what he is accessing, keep his assets safe with anti virus and other means of protection and even with these and other protections can be at risk of attacks.

But the fact that Binance can afford to take a mulligan doesn’t excuse what appears to be a devastatingly thorough hack. And it’s unclear whether the compromise of two-factor codes and API keys will have broader implications. Most of all, it’s the latest reminder that, for all the promise of cryptocurrency, it remains a Wild West for investors. If the price fluctuations don’t get you, a hacker, a fraud, or a scam is always just around the corner

Binance traders generally will also be affected, both because they won’t be able to deposit or withdraw their digital money and because, the uncertainty of who exactly is participating in those markets could lead to some mayhem. “Hackers may still control certain user accounts and may use those to influence prices in the meantime,

Interms of security DEX are the best but when you talk about liquidity and trading volume centralised exchange are still the best. I think i will stick with centralized exchange till decentralized exchange increases in liquidity

Both CEX and DEX have proved equally bad. Exchanges like Etherdelta have been hacked and after Binance, I don't think any exchange can manage to stay safe. Even an exchange like Coinbase is not safe as many users have claimed their accounts have been hacked. Even my country's local exchange has been hacked and because bitcoin transactions cannot be traced, it's not possible to track down the hacker. Has any of the hackers of these exchanges been found? The answer is No and they probably would never be found. 

I think you should be able to find a place of exchange that has very high security and has a very high trading volume so that your trading can be more secure and comfortable, because if you trade in a quiet exchange place that will make your assets not grow.

DEXs are temporarily useless and not useful as there isn't a single volume available so for now its plain useless maybe in the near future we might actually see new changes

https://www.blockchain.com/btc/tree/444776063

Well check this out
The coins is not able to move at least in this short period
But i believe the coins will eventually flow out when people are not taking notice of it

It did affect the market as binance is one of the top tier exchange and such incident happens create a bad impression for crypto market

I agree, everything is have his vulnerable. The different is in DEX we are myself that secure our fund, so if it's loss it will totally our mistake. but in CEX we are take risk with give our fund to their security team, lucky if they want to return back the lost funds, because there are some who don't want to be responsible for that.

This signifies the urgent need of dex. DEX in reals sense, not just another CEX disguised as DEX like we had some in the past. DEX should not collect any personal info or store them. Only users should be responsible for there fund and DEX should act as an intermediate between two users.

But binance handled it well, see, they shoulder all the loss rather than putting it to the traders, i think what they do is an eye opener for all of us, not to store funds in any exchanges.

What happened to Quadriga who's owner died and no one had access to cold storage access except for that owner? Its same except the hacking part.

I agree that exchange always tries to provide a better security in their platform but then again there is a term "no system is uncrackable" which you can't stop even if you are trying hard to keep the breaches away. You also can't be so sure that the losses every time will be small.

People are not really making use of DEX and I don't blame them for this, because most of the decentralized exchanges are not user friendly even to developers who were not involved in the development of the platform, I think if a company can come up with a user friendly decentralized exchange, then we might begin to see a lot of volume in this exchanges, for now the volume is so low and I won't advise anyone to make use of DEX for now until it has been modified in a way that guides won't be needed to trade.

What happened to binance, in my opinion is not a big deal to think the way you do. It's what every exchange should expect even the mightiest and work towards fortifying their structure more.

Are you saying that binance with a huge finances and capital at their disposal could not secure their firewalls?  or its act of sabotage on their part to tarnish the image of cryptocurrencies to the world,  This is absolutely fishy and unbelievable, I believed the clamour for a decentralized exchange will see the light of the day so as to bring back the confidence of investors and sanity to decentralized exchanges.

I think its a big deal because its about the security. If about security of our coin or token, exchanger should take a big step to improve their security. Perhaps, exchangers using cold wallet to avoid from hacking but its take a time when investor want to withdraw their funds.

Decentralized Exchange always be good choice but the problem with DEX exchanges is on transaction volume. Its much bigger on centralized exchanger but with many hacking, i think exchanger will improve the security to secure investor funds

I have always liked decentralized exchanges, but they lack volume. This situation with Binance will not affect the trading volume on the DEX exchange.

all exchanges are not safe. Includes decentralized exchanges. we better not store too many coins at the exchange. it is just a place for exchange.

I don't, people don't learn until it affects them personally. We have had dozens of large hacks were investors have lost millions over the last few years and people still stupidly keep their money on Centralised Exchanges. Even though it is well known that they prone to being hacked and if you lose your money there are no investors protections to bail you out for being stupid. 

Do you still think that cryptocurrency community really cares about some of these things, don’t be surprise that everyone will still go about their businesses as if nothing happened, provided it didn’t happen to them.

Can you tell me one big FUD news that you will say really had any effect on the market, when Binance came with the news of BSV delisting, majority of us thought that would be the end for BCV, the coin still has very high volume till date, I am sure that BNB value also will not go down as many people will simply just ignore the issue. Despite the news, I have been trading my coin on them since yesterday as if nothing happened.

Even though Decentralized exchange also can be hacked, so you may not use any exchange :/. Everything is possible for centralized or decentralized, it just how we use it.

Binance getting compromised means there's no exchange platform in the industry that's 100% secure so it's very important for us not to always keep our assets on those platforms because anytime can happen any time even in one of the most secured of them.

As centralized are vulnerable so are decentralized exchanges, dex like ED have been hacked many times, therefore i don't think it's time to consider dex but cex should work more on security of their exchange.

binance is market exchange that is not wallet, what hacker do is moving bitcoin from binance to offline wallet, remember big market is target of hacker, if you want to invest for long term better save your coins in wallet

people are not ready yet to use decentralized exchanges because it is too difficult for them. people also are not ready to take responsibility for their funds

Dex is a good idea but the issue with them is volume, no one want to use an exchange with low liquidity, an again who said Dex can't b hacked, remember anything hackable would be hacked, if volumes goes to these exchanges then they will all become the honey pot for hackers

The core value proposition of a decentralized exchange (DEX), and what makes them interesting, is allowing for counterparties to find each other and trade directly on-chain, thereby not being dependent on a centralized trading exchange and taking on the associated custody risks. By making trades that settle directly on-chain, you avoid moving your crypto into an exchange wallet and facing the risk of a hack or theft.

Decentralized exchanges is the best for now, deex is also cool but there are alot of issues with their volume, probably later if they get to fixed that, they can also make their own fame but currently nothing like decentralized exchanges.

In this kind of industry nothing is certain, we can't be assured whatever system we used hackers always present and always find ways to get in
and get everything insides victims wallet, it should take another big challenge to face from the owners of every exchange security needs to be
updated and add multiple precautions.

It has been a year of more hacks on centralized exchanges and there’s no difference
Dex do not have volume; which makes it not always preferred

Even at that; when dex do get the recognition; does it mean it can’t be hacked  as well ?
I just feel like the Blockchain world is vulnerable

Will they ever tell you that the funds of users are not safe, if the funds were safe, how did they allow such catastrophe to befall them, 7000 BTC is not a small money man, even if they promised to refund it, it will still have a very big impact on them, they will want to quickly recover it back, so I expect their transaction fee to increase now, because that is the only way they can recover the money back.

The reason why they probably promised the remaining user of safety of their coin is because; they would have gotten a very great security expert that would quickly look into the situation to prevent it from further occurring.

The trade volume on decentralized exchange is a joke... I miss the days Listing on etherdelta was enough to pump a  coin to the moon.. Today majority of the DEX are more or less dumping ground for bounty hunters loooking to earn peanuts...

I do not think that this hacking of Binance will help to dex exchanges become more popular. since binance will cover all losses I think this event will not be interesting

We all knew this could happen on the internet ambient, even if it was a Binance. If this happened to the best, there could be more for others. Binance pays back the money, I do not think there will be a big problem.

I think that is because the crypto market cannot rise after it's at the down price so the decentralized exchange cannot rise too. It makes altcoin and tokens suffer for a long time, but I think this time, every altcoin and token still trying to increase again because bitcoin makes good moves and the altcoin and tokens can moves to a better price too.

binance indeed bears all losses and they use insurance that is available at binance so I don't think binance is too much loss when there are cases of burglary like this because all lost assets will recover.

I honestly have a feeling that the whole thing was staged in order to promote Binance's DEX.. I wouldn't be surprised.

I think there is no problem with binance. how they give investors and how they work very professionally, quickly. binance will be the first choice of investors. further development dex will make binance stronger

All of the exchanges are working very well especially the top 5 are performing extremely well and we as traders and investors should not ignore the importance of these exchanges. Now, many people are getting worried about the Binance as they are not sure for next time but they have to be sure. As said, not all the exchanges are 100% secure but these leading exchanges will now increase their security by 2x.

What I really want to know is what binance is doing about this issue. Do they plan on replacing everything that was lost, like paying those that lost their money back, since it's nobody's fault. If anyone is to be blamed, they are the ones that should be blamed for not being careful and taking their security serious. Ever since I got into crypto trading, I have never heard for once that Coinbase got hacked, but other exchanges be getting hacked at all times. Binance is a very big, and I believe they will be able to replace what was lost.

Do you really think that DEX is hack proved and free from any future attack from hacker's, one thing I have learn is that hackers are always searching for area of vulnerabilities and once they fine one they can penetrate any exchange. What happen to binance can equally happened on DEX the only thing is for the exchanges to see the weakness of other as an avenue to upgrade they on security. I don't really trust any other exchange trading volume apart from binance.

Changes are good but they take place very slowly and this is how things would go in the crypto market. The fact that Binance will cover the losses face by users will make people forget about or care less about the hack thing. But I think Binance will come back with the strong security system to make sure things like these never happen again. Decentralized exchanges are the best but you do not get things purely decentralized.

Definitely crypto enthusiasts are going to look at conducting all their cryptocurrency trading on decentralized exchanges but let's also not forget that some decentralized exchanges have been hacked before just that they are not as numerous as that of centralized exchanges. Let's develop DEX to have more security features and they could be the future trading platform.

People's interest in Binance will not fall, was it hacking or a cunning maneuver I don't know, but serious consequences will not be.

I am agree, people still trus on binance because they solve this with transparancy. Beside that, binance recover all investor losses and i think binance is trusted and have good reputation in crypto space. Dex is good but i think its need more time to grow and can compete with centralized exchange

That is right, i have never heard that decentralized exchange has been hacked. Many centralized exchanges has been hacked in the past.
Maybe centralized exchanges need to learn the security of decentralized exchanges like IDEX or Forkdelta.

Nobody really hates decentralized exchanges, there is nothing wrong with them, they are fine and they are used by some people too. The problem with decentralized exchanges is that since there is no one really operating that website why would people actually go trade there ?

I mean what happens if there is a problem a bug in the code and then we get to face a problem? There is no operator so there is no customer support and there is no one you can complain to neither. That is why people still prefer centralized exchanges like binance (who literally saved this situation without hurting anyone so after the hack they are even stronger now) get to be our favorites because when we face an issue we complain to them and they fix it which is why they are the superior in peoples mind, not because dex exchanges suck but even if they are good they are not as good as binance.

the fact is that decentralized exchanges are very difficult to use for ordinary people. that is why such exchanges do not have any volumes - people do not know how to use them

All of us are talking about DEXs. But where they are? Tron has good DEXs, fresh design, speed of transactions is good. But could we say it about Ethereum DEXs?
Look at IDEX, ForkDelta or EtherDelta, their design and use is terrible.

binance still has my complete trust, it remains my favorite exchange, i alternate its use with dex in particular with forkdelta, i believe that dex will become a forced choice when all traditional exchanges will require kyc

Thee are a lot of big exchange hacked in the past, but traders are not going for decentralized exchanges, they still prefer centralized exchange like Binance and Kucoin and among others, traders want liquidity and they want to see volume, something DEX cannot provide.

In any case, there will be a possibility of hacking the exchange. Since it is a very profitable business. I think that one mistake Binance is not a reason to leave this exchange. I think the administration will be able to repay all the costs of users. But seriously, Binance is a progressive exchange and they will be able to learn from this situation.

I’m not doubting binance but DEX is a good choice if something bad happen with the centralized exchanges, though it will take time for sure. There’s no enough volume on DEX, and it is still not sure to be safe on that kind of exchange. I tried to use DEX to sell token but its hard to sell if there’s no demand on that exchange.

All the funds are safe and they will refund traders I don't see any issue why people will leave Binance, they have taken care of their business over the years, I don't think traders will shout that they are leaving Binance for goods, as long as they can trade profitably which the DEX's cannot provide, because of lack of volume.

In fact, I never thought of what was happening with binance after being broken. I need to know that this is a horrendous event. And it seems very appropriate to switch to using another exchange. It took a long time to get back to trust. And don't repeat it again. :-[

I think those who really value their money will now prefer to use DEX. Ironically, Binance is soon going to launch its DEX platform. In the Wake of such a large exchange, I think that the others will also start launching their own decentralized platforms.

The only problem with a dex is it can not serve different type of coins run on different blockchains which makes a centralized exchange better in this comparison.
But in the case of security I think dex is way better than a centralized exchange!

But what about the KYC requirements? None of the current DEX sites need KYC to trade in them. But in case Binance is opening its own DEX site, would they require KYC or are they going to allow anonymous trading? In case they make KYC mandatory, then we can't call that site as DEX. But it may depend on the jurisdiction where Binance is based. If I am not wrong, Binance is based out of Hong Kong, with additional offices in other countries. I don't know whether the HK regulations allow anonymous trading. 

I am very sad to realize that Binance could not change the industry of cryptocurrency exchanges. What happened will leave a very huge mark on the reputation of the exchange. It is likely that in the near future we will move to DEXes.