As I remember correctly (post if I am wrong) Binance CEO was suggesting people to hold their coins on most trustworthy exchange and in this situation he was paying attention to binance. Overally suggested people to trust binance and hold their coins here.
But recently there was a hack and 7000btc were stolen. So what was the point?
1. Binance has good security system and this hack is false, they just wanted to give a bad reputation to cryptocurrencies (this work comes from governments and financial institutes) because now there will be a rain of articles about how bad crypto world is, how unsecure it is and etc.
2. They are stupid and really had security issues
You could have good security and still get hacked. I'm not saying Binance did, but theirs is probably a lot better than most small exchanges. Point number one doesn't make any sense because the hack has nothing to do with crypto's inherent security. It's all about the exchanges.
Point number two
could be true, because only uninformed people or people who have financial stakes would suggest you to safekeep your coins in exchanges. They obviously had security issues, but they at least had
SAFU in place to cover the losses, so no users will be losing money. I guess you could still say it's safe, to a certain (or really low) degree.
I still wouldn't recommend anyone to keep non-trading coins in exchanges, but things could have been much worse.
