"Binance has a longstanding history stopping stolen exchange funds from being deposited and traded on its exchange. In January of this year, Binance froze all funds associated with the hack on Cryptopia. The exchange lost some $3.6M in cryptocurrency and Binance took efforts to freeze several batches of deposits, including Metal (MTL) and Kyber Network (KNC). Binance also froze all funds linked to money laundering from WEX in October 2018."
This is what Binance does very well if there is a hacked exchange. Binance immediately secures funds because it does not want things to happen in the next exchange, many Binance steps are praised by investors because in that way their funds can be safe without being controlled by hackers, I know Binance's security is stronger than other major exchanges.
Binance has a SAFU fund which is alloted in case exchange was hack to cover investors loss. This is what I like about then besides there security level. They assume that they will be hacked in future becuase there is no safe online. They anticipate always the worst case scenario which CZ is good about.
Nothing in online world is unhackable and thats the good thing with Binance and should really be a standard for most exchange to have that SAFU funds or back up ones incase if there are some breaches happen on the platform where they do able to compensate on whats lost by its users.Look at on what happen to Binance after the hack? It seems like nothing is happened due to that kind of immediate action that they had made.
In regards to the topic about freezing funds from other platforms then its just an ethical act for a platform to be done.Even though they are competitors but showing off respect on what happen to them
and also you arent only helping the platform but also you are helping those victims.
