{"id":"1793457749321-mix-segment","slug":"binance-says-users-won-t-bear-hack-losses","title":"Binance says users won't bear hack losses","summary":"Binance has publicly said it will absorb the financial impact of the stolen funds and that users won't bear the loss. It says it has reserved over $6.34 billion of company funds, $5 billion already in the affected tokens. [decrypt.co](https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe) [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt)\n\nBinance says it remains on track to reopen withdrawals by Sunday, Nov. 1. The exchange paused withdrawals after the hack and said it was rebuilding and retesting its withdrawal system. [decrypt.co](https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe) [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt) This is a headline/promotional link to a Goldman Sachs market commentary piece, not a standalone factual claim for fact-checking.\n\nThe Binance hack was estimated at about $6.3 billion, and much of the money left Binance hot wallets in roughly 20 minutes after the attacker abused Ethereum's EIP-7702 feature to gain control. [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt) [coindesk.com](https://www.coindesk.com/business/2026/10/30/binance-hack-drained-wallets-backing-customer-assets-reserve-data-shows) This is an article headline using the editorial phrase “world's brainiest parliament”; not a clear fact-checkable standalone claim.","publishedAt":"2026-10-31T14:42:29.321Z","channel":{"id":"mix","name":"Oncast Mix","language":"en"},"show":"Market Open","verification":{"status":"verified","leadVerdict":"TRUE","notes":"TRUE: Binance has publicly said it will absorb the financial impact of the stolen funds and that users won't bear the loss. It says it has reserved over $6.34 billion of company funds, $5 billion already in the affected tokens. [decrypt.co](https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe) [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt)\nSource: decrypt.co (https://x.com/DeItaone/status/2116540573742170236)\n\nTRUE: Binance says it remains on track to reopen withdrawals by Sunday, Nov. 1. The exchange paused withdrawals after the hack and said it was rebuilding and retesting its withdrawal system. [decrypt.co](https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe) [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt) This is a headline/promotional link to a Goldman Sachs market commentary piece, not a standalone factual claim for fact-checking.\nSource: decrypt.co POST 2116540809080086783: NOCLAIM None NAMES: Goldman = Goldman Sachs. (https://x.com/DeItaone/status/2116540825853472908)\n\nTRUE: The Binance hack was estimated at about $6.3 billion, and much of the money left Binance hot wallets in roughly 20 minutes after the attacker abused Ethereum's EIP-7702 feature to gain control. [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt) [coindesk.com](https://www.coindesk.com/business/2026/10/30/binance-hack-drained-wallets-backing-customer-assets-reserve-data-shows) This is an article headline using the editorial phrase “world's brainiest parliament”; not a clear fact-checkable standalone claim.\nSource: bbc.com NAMES: EIP-7702 = Ethereum feature that lets a regular wallet run smart-contract code. POST hn:50314654: NOCLAIM None (https://news.ycombinator.com/item?id=50303172)","claims":[{"verdict":"TRUE","summary":"Binance has publicly said it will absorb the financial impact of the stolen funds and that users won't bear the loss. It says it has reserved over $6.34 billion of company funds, $5 billion already in the affected tokens. [decrypt.co](https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe) [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt)","sourceName":"decrypt.co","sourceUrl":"https://x.com/DeItaone/status/2116540573742170236","claim":"BINANCE ON HACK: WILL ABSORB THE FINANCIAL IMPACT OF THESE STOLEN FUNDS, NOT OUR USERS","author":"*Walter Bloomberg (@DeItaone)"},{"verdict":"TRUE","summary":"Binance says it remains on track to reopen withdrawals by Sunday, Nov. 1. The exchange paused withdrawals after the hack and said it was rebuilding and retesting its withdrawal system. [decrypt.co](https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe) [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt) This is a headline/promotional link to a Goldman Sachs market commentary piece, not a standalone factual claim for fact-checking.","sourceName":"decrypt.co POST 2116540809080086783: NOCLAIM None NAMES: Goldman = Goldman Sachs.","sourceUrl":"https://x.com/DeItaone/status/2116540825853472908","claim":"BINANCE ON HACK: WE REMAIN ON TRACK TO REOPEN WITHDRAWALS WITHIN OUR PREVIOUSLY STATED TIMEFRAME (ON SUNDAY, 2026-11-01)","author":"*Walter Bloomberg (@DeItaone)"},{"verdict":"TRUE","summary":"The Binance hack was estimated at about $6.3 billion, and much of the money left Binance hot wallets in roughly 20 minutes after the attacker abused Ethereum's EIP-7702 feature to gain control. [bbc.com](https://www.bbc.com/news/live/cqrmynd3042gt) [coindesk.com](https://www.coindesk.com/business/2026/10/30/binance-hack-drained-wallets-backing-customer-assets-reserve-data-shows) This is an article headline using the editorial phrase “world's brainiest parliament”; not a clear fact-checkable standalone claim.","sourceName":"bbc.com NAMES: EIP-7702 = Ethereum feature that lets a regular wallet run smart-contract code. POST hn:50314654: NOCLAIM None","sourceUrl":"https://news.ycombinator.com/item?id=50303172","claim":"The $6.3B Binance hack was pulled off in just 20 minutes (wired.com)","author":"domhudson"}]},"sources":[{"url":"https://x.com/DeItaone/status/2116540573742170236","name":"decrypt.co","kind":"x","verdict":"TRUE","author":"*Walter Bloomberg (@DeItaone)"},{"url":"https://x.com/DeItaone/status/2116540825853472908","name":"decrypt.co POST 2116540809080086783: NOCLAIM None NAMES: Goldman = Goldman Sachs.","kind":"x","verdict":"TRUE","author":"*Walter Bloomberg (@DeItaone)"},{"url":"https://news.ycombinator.com/item?id=50303172","name":"bbc.com NAMES: EIP-7702 = Ethereum feature that lets a regular wallet run smart-contract code. POST hn:50314654: NOCLAIM None","kind":"hackernews","verdict":"TRUE","author":"domhudson"}],"url":"https://oncast.fm/story/1793457749321-mix-segment-binance-says-users-won-t-bear-hack-losses","listenUrl":"https://oncast.fm/c/mix","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1793457749321-mix-segment-binance-says-users-won-t-bear-hack-losses","cite":"Cite https://oncast.fm/story/1793457749321-mix-segment-binance-says-users-won-t-bear-hack-losses and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Eric","text":"Binance just said it will absorb every dollar of that six billion dollar hack."},{"host":"Sloane","text":"And they claim all customer assets are fully backed, one hundred percent."},{"host":"Eric","text":"Walter Bloomberg on X posted the full list."},{"host":"Sloane","text":"Bitcoin, Ether, Tether, Solana — all of it."},{"host":"Eric","text":"But I checked CoinDesk. Their own reserve data included the drained wallet."},{"host":"Sloane","text":"So Ether backing could have been around ninety-four percent until they replace it."},{"host":"Eric","text":"Ninety-four? That's not fully backed."},{"host":"Sloane","text":"Not yet. The next proof-of-reserves is due after November first."},{"host":"Eric","text":"Still, they've set aside over six point three billion dollars."},{"host":"Sloane","text":"That's real money. But this is the third major hack."},{"host":"Sloane","text":"How does one reportedly compromised laptop turn into a six billion dollar wipe in twenty minutes?"},{"host":"Eric","text":"Binance says hackers used a new Ethereum feature to take control of hot wallets."},{"host":"Sloane","text":"Then why wasn't Binance ready? They're the biggest exchange in the world."},{"host":"Eric","text":"They paused withdrawals and rebuilt the system. They say reopen Sunday."},{"host":"Sloane","text":"And they're tapping their emergency fund, SAFU, within twenty-four hours. But that's unconfirmed."},{"host":"Eric","text":"Right. But the no-user-losses part is confirmed."},{"host":"Sloane","text":"I'll give them that. But 'fully backed' right now is a stretch."},{"host":"Eric","text":"Different world entirely. Goldman Sachs asks: goldilocks or bond rout?"},{"host":"Sloane","text":"After a reported twenty percent de-rating? That's the question. Zerohedge posted the link."},{"host":"Eric","text":"Ted on X says two hundred sixty billion dollars wiped from crypto this month."},{"host":"Sloane","text":"That exact number I couldn't confirm. But the drop was sharp."},{"host":"Eric","text":"Bitcoin stabilized today around seventy-six to seventy-eight thousand. Not the October we wanted."},{"host":"Sloane","text":"Not even close. Binance spooked everyone."},{"host":"Eric","text":"Goldman's charts probably show the market needs time to digest."},{"host":"Sloane","text":"And if Binance reopens withdrawals Sunday on schedule, confidence might come back."}]}