Changpeng Zhao, founder of Binance, posted on X on October 30, 2026, comparing the recent $6.3 billion hack to the historic Mt.Gox breach. Zhao wrote that while the dollar amount is the biggest ever, the loss in Bitcoin terms is modest compared to Mt.Gox’s 650,000 BTC, which represented over 5% of the total supply at the time. He highlighted that the market impact of a hack depends on the percentage of total Bitcoin supply affected and the proportion of users whose assets are compromised. Zhao also pointed out that earlier incidents like Mt.Gox and FTX affected nearly all users on those platforms, whereas the recent case involved only a single victim, underscoring why the price reaction has been muted. He concluded that despite the disaster, Binance remains resilient and committed to protecting its users, a message aimed at reassuring the community and investors.

“Saw a few discussions about size of hack, why impact to bitcoin price is small, etc. 👇 $6.3 billion is the biggest in USD terms, but not in BTC terms. MtGox was 650,000 BTC! Other important numbers to consider: % of bitcoin (in relation to BTC total supply), ie, market impact. MtGox is big there again at 5%+. Number of users impacted, and % of user assets impacted. MtGox (the largest CEX at the time) and FTX (not small) were all near 100% of users and their asseets. Most important: Who is impacted? Does the platform cover it all? (only one victim), as in recent two CEX cases and Binance. Obviously, still a major disaster for the industry, Binance (and me). It hurts, but we survive. Most importantly, we protect our users. (image from @MatthewRoszak)”

— Changpeng Zhao (@cz_binance) on X · X ↗

Changpeng Zhao is not affiliated with COINMAG. The quote comes from a public post on X; the context was written by the COINMAG newsroom.