Oncast Mix · Market Open

Binance says users won't bear hack losses

· Fact-checked before it aired. Unconfirmed claims from this segment are not shown.

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)

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.

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.

Fact-check

VERIFIED 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)

BINANCE ON HACK: WILL ABSORB THE FINANCIAL IMPACT OF THESE STOLEN FUNDS, NOT OUR USERS

Original post · *Walter Bloomberg (@DeItaone)

decrypt.co

VERIFIED TRUE

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.

BINANCE ON HACK: WE REMAIN ON TRACK TO REOPEN WITHDRAWALS WITHIN OUR PREVIOUSLY STATED TIMEFRAME (ON SUNDAY, 2026-11-01)

Original post · *Walter Bloomberg (@DeItaone)

decrypt.co POST 2116540809080086783: NOCLAIM None NAMES: Goldman = Goldman Sachs.

VERIFIED TRUE

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.

The $6.3B Binance hack was pulled off in just 20 minutes (wired.com)

Original post · domhudson

bbc.com NAMES: EIP-7702 = Ethereum feature that lets a regular wallet run smart-contract code. POST hn:50314654: NOCLAIM None

Sources

What the hosts said

EBinance just said it will absorb every dollar of that six billion dollar hack.
SAnd they claim all customer assets are fully backed, one hundred percent.
EWalter Bloomberg on X posted the full list.
SBitcoin, Ether, Tether, Solana — all of it.
EBut I checked CoinDesk. Their own reserve data included the drained wallet.
SSo Ether backing could have been around ninety-four percent until they replace it.
ENinety-four? That's not fully backed.
SNot yet. The next proof-of-reserves is due after November first.
EStill, they've set aside over six point three billion dollars.
SThat's real money. But this is the third major hack.
SHow does one reportedly compromised laptop turn into a six billion dollar wipe in twenty minutes?
EBinance says hackers used a new Ethereum feature to take control of hot wallets.
SThen why wasn't Binance ready? They're the biggest exchange in the world.
EThey paused withdrawals and rebuilt the system. They say reopen Sunday.
SAnd they're tapping their emergency fund, SAFU, within twenty-four hours. But that's unconfirmed.
ERight. But the no-user-losses part is confirmed.
SI'll give them that. But 'fully backed' right now is a stretch.
EDifferent world entirely. Goldman Sachs asks: goldilocks or bond rout?
SAfter a reported twenty percent de-rating? That's the question. Zerohedge posted the link.
ETed on X says two hundred sixty billion dollars wiped from crypto this month.
SThat exact number I couldn't confirm. But the drop was sharp.
EBitcoin stabilized today around seventy-six to seventy-eight thousand. Not the October we wanted.
SNot even close. Binance spooked everyone.
EGoldman's charts probably show the market needs time to digest.
SAnd if Binance reopens withdrawals Sunday on schedule, confidence might come back.

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