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Binance co-founder Yi He responded to OKX CEO Star Xu on X by sharing a trader’s complaint regarding tokens stuck on the rival exchange, following Xu’s criticism of Binance’s account setup.
The public dispute centers on a specific incident involving a misdirected transfer and broader concerns about how User IDs (UIDs) function across different exchange platforms. A UID is defined as the number that identifies each exchange account. The conflict escalated after a user on X blamed a “UID collision” for lost funds, prompting responses from both companies’ leadership.
UID Uniqueness and Transfer Risks
Yi He initially rejected the user’s claim of a UID collision on November 7, stating that every Binance user holds one unique UID. She noted that the user involved in the dispute had sent funds to Binance Thailand, which operates a separate account system from the main Binance platform.
Star Xu subsequently weighed in, arguing that user IDs under a single brand must either be globally unique or that UID-only transfers between sites must be blocked. Xu outlined the technical risk in a post on X:
“The reason is simple: a UID identifies an account. If the same UID can exist on different sites under the same brand, while users are also allowed to transfer funds between sites using a UID, it can lead to the wrong receiving account being identified and funds being sent to the wrong place,”
Xu’s comments highlighted a structural concern regarding how users transfer funds between sites using only a UID. He suggested that if IDs are not globally unique across all sites under one brand, the system creates a pathway for funds to be sent to the wrong place.
Context of Ongoing Tensions
The exchange between Yi He and Xu did not occur in isolation. Tensions between Binance and OKX executives had already surfaced on November 4, when Xu accused Binance founder Changpeng Zhao (CZ) of deflecting blame following a recent hack. Xu also criticized CZ for engaging in a public sparring match with Elon Musk during the crisis.
Yi He’s reply to Xu came the morning after Xu’s initial criticism. Instead of addressing the UID technicalities directly in her own words, she shared a trader’s warning against using OKX’s DEX mode for tokens on the BNB Chain. This action served as a counter-accusation, pointing to issues on OKX’s side regarding user funds.
The dispute unfolds while Binance is recovering from a $6.3 billion hack. On November 7, the same day Yi He responded to Xu, Binance announced that Chief Financial Officer Kaiser Ng is leaving the company. The simultaneous occurrence of the executive departure and the public clash with a major competitor places additional scrutiny on Binance’s operational and security posture.
Both sides have now pointed to flaws in their respective systems that left users unable to recover or sell their funds. The user who initiated the dispute cited a UID collision, while Yi He cited a separate issue involving tokens stuck on OKX. No further procedural steps or regulatory interventions have been announced in the source material.
Frequently Asked Questions
What is a UID collision in crypto exchanges?
A UID collision occurs when the same User ID number exists on different sites under the same brand. If users can transfer funds between sites using only this ID, it can lead to the wrong receiving account being identified.
When did Yi He respond to Star Xu?
Yi He responded to Star Xu the morning after his initial criticism, which followed his comments on November 7 regarding Binance’s account setup.
