Crypto trader Bonk Guy, who posts on X under the handle Unipcs, said the latest hack involving Binance is unlikely to create systemic risk. In his view, Binance reportedly generates about $16 billion to $17 billion in annual revenue, and nearly half of the funds tied to the incident have already been frozen or may still be recovered. He estimated that the amount that may ultimately remain unrecovered is around $3.2 billion.
Based on that estimate, Bonk Guy said the potential loss would equal roughly 2 to 2.5 months of Binance revenue, which he described as manageable relative to the exchange’s operating scale. He also pointed to public statements from Changpeng Zhao and He Yi, who said user funds are safe and that all losses will be fully covered.
Bonk Guy added that the chances of systemic fallout or a bank-run-style rush are very low. He said the bigger near-term risk for the market is panic selling and excessive media amplification, and urged investors not to make trading decisions driven by fear.
According to ChainCatcher, crypto trader Bonk Guy, known on X as Unipcs, said the latest hack involving Binance is unlikely to trigger systemic risk.
He said Binance reportedly generates about $16 billion to $17 billion in annual revenue. He added that nearly half of the funds involved in the incident have already been frozen or may still be recovered, leaving an estimated $3.2 billion that may ultimately remain unrecovered. That would be equal to roughly 2 to 2.5 months of Binance revenue, which he said remains within a manageable range for the exchange given its scale.
Bonk Guy also said Changpeng Zhao and He Yi have both publicly stated that user funds are safe and that all losses will be fully covered. In his view, the odds of systemic risk or a run on the platform are very low. He said the market should pay closer attention to panic selling and excessive media amplification, and warned investors against making trading decisions out of fear.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
