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Comment by callamdelaney | Hacker News Reader

For context, that’s about 10 months of fees for Binance, depending on how much of the volume they trade are discounted and considering current average volumes.

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It's 10 months of revenue, but 10 years of reputation.

If they lose 6B but manage to keep their customers whole, I don't think it's that bad of a message. Too big to fail territory.

funds are safu

Headline is still "Binance hacked for $6BN". Too late to control the narrative.

https://www.youtube.com/watch?v=DelF6zEHXpE

Lol, binance wins because of volume. Crypto traders see cex security risks as the price of doing business, they're not going anywhere.

ish. the 'we don't need no gubmint interference in our currency' crew certainly seem happy to have gubmint help in sorting this mess out.

Not 10 months... Binance revenue was 17B in 2024 (no disclosure in 2025, certainly a bit lower but still). The frozen assets from the stolen 5.8B come close to 3B, so they have at most a 3B loss if nothing is recovered from now on. Significant but that's no more than 3 months of revenue.

So they actually lost a few years' worth of profit on this hack? Could be worse, but not insignificant by any means.

I’m not at all familiar with the crypto space.

Are you suggesting that this is not a big deal? $6B feels like a lot but sounds like in the scheme of things it isn’t as a fraction of trading volume. Is that right?

Don’t think they’re suggesting it’s not a big deal.

Any company losing 10 months of revenue overnight is a BIG fucking deal. Doubly so in a speculative asset that you’re holding for others “securely”. The financial hit has only just begun for them.

That said yes the trading volume has huge.

It is a big deal, but not big enough for them to go out of business

I'm not in the space, but I'd think that the reputational damage alone is the more significant part here.

Money is meaningless nowadays. One billion dollars used to be absolutely huge, now it's a seed round into a team with two MIT dropoffs and one mac mini

Facebook recently got a fine bigger than that.

Binance is the largest custodian/exchange out there.

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