Correct me if I'm wrong, but in 2018 there was a 'successful breach' in Binance.
You're correct, they lost users KYC details in that hack. I consider all centralized exchanges either untrustworthy, unsafe or both - but a centralized exchange that has been "hacked" twice in two years should be considered
extremely untrustworthy, unsafe & incompetent.
why though? they're not haircutting user funds (and stealing them). they're compensating users for everything.
Because I've not seem any solid proof yet. They should compensate anyone who lost funds, it's their fault, not once, but twice. What would happen if the third hack cleaned them out completely? - nobody would get compensated & I doubt everyone would be saying how trustworthy they are then.