The 1011 incident has shown us that the cryptocurrency media has no supervisory ability at all. Not unwilling, but unable. More than 90% of the advertising and sponsorship that the media relies on for a living come from exchanges and project parties. Do you want them to question, question, and supervise the funders who have been investing in their budgets for a long time? It is impossible to achieve in commercial reality. And what about social media? To be honest, it's not much better either. Most KOLs won't really go against the exchange. Rebates, collaborations, promotions, special projects, friendships, team building, and various interest relationships make it difficult for people to speak up. That's also why, after the Elizabeth donation fraud incident, almost all KOLs expressed their opinions and everyone stepped on them; But in market system level accidents like 1011, even if they themselves are affected, most people still choose to remain silent. I checked the data and found that the peak traffic of the Elizabeth donation fraud incident in Chinese CT exceeded 1011. The two should not have been on the same scale, but reality is just so absurd. You will see many unbelievable phenomena: Digital Galaxy, such a large institution, has to modify the title of the 1011 event under pressure. Binance obtained the Abu Dhabi license, the CMB cooperation case, and the public relations draft of He Yi's interview, which was reported by the media faster and larger than anyone else. But for major accidents like 1011 that directly affect market safety and user assets, the media has almost completely remained silent, interviews have avoided the key and focused on the minor, and those that should be questioned are not pursued, while those that should be explained are ignored. Taking my own example, recently I wrote a long English article to publicly hold accountable the handling process of the Binance 1011 incident. That article has over 300000 exposures, 1000+likes, and 350+shares on X. If it were in the past, the media wouldn't even ask and would have been eager to repost it because it was a genuine traffic topic. But what was the result this time? Only one Chinese media outlet reposted the content throughout the venue. (Although the title has been edited to be gentle, I am very grateful for being willing to forward it.) Binance can become Binance because it has done many things right in the past. But a security incident of the 1011 level, as long as the handling is not transparent, can shake the trust foundation accumulated over eight years.