Binance announced that it had suffered a security breach on May, Binance CEO Changpeng Zhao (aka "CZ") said via a "Security Incident Update" published on Binance's blog that the Binance team was "making significant changes to the API, 2FA, and withdrawal validation areas", and as a result, it would be improving Binance's two-factor authentication (2FA) by implementing support for hardware-based security keys such as Yubico's YubiKey devices, and that in fact, Binance would be giving away "1,000 YubiKeys as soon as that feature is implemented."

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