MT Lab Research

How many times the world wrote Binance off? 9 times!
And 8 times $BNB rose from the ashes.
Round 9 started on Oct 29, with the biggest hack in crypto history.
@CZ @Yi He , you two have pulled Binance through 8 of these. I believe round 9 ends the same way. Stay strong, we've got your back.
I opened my Binance account on Jan 2, 2018, and I lived through 8 of these myself. So before you panic, here's the full record: every hit, the fix, and what $BNB did next.
1/ Sep 2017: China bans ICOs and local exchanges
> Binance was 2 months old, and its home market was gone.
> It moved out, first to Japan, then Malta. CZ said only 18% of its users were in China.
> BNB sold at $0.15 in the ICO. By Jan 1, 2018 it was $8.55.
2/ Mar 2018: The phishing attack
> Hackers stole logins through fake Binance sites, then used those accounts to pump VIA in a 2-minute window.
> The risk system froze withdrawals. Binance reversed the fake trades, and the hackers lost the coins they had deposited.
> Binance put a $250K bounty on them. 4 months later it created SAFU, an emergency fund fed by 10% of trading fees.
> BNB fell from $10.4 to $7.1 that week, and was back near $15 by late April.
3/ May 2019: The first real hack
> 7,074 BTC (about $41M) left the hot wallet in one transaction.
> SAFU paid it all. I was a user then, and my balance never moved.
> BNB fell from $23 to $18.3 that week. The next week it broke its all-time high.
4/ Oct 2022: The BNB Chain bridge hack
> A bug let an attacker mint 2M new BNB, about $570M.
> Validators stopped the whole chain. About $100M got out, and no user balance was touched.
> BNB slipped from $298 to $275 that week. A month later it touched $398.
5/ Dec 2022: The bank run after FTX
> A month after FTX collapsed, the fear moved to Binance. $6B was pulled out in 3 days.
> Binance paid it all out. At the same time, my own money was frozen on FTX, and it stayed stuck until the first payout in Feb 2025.
> BNB fell from $285 to $220 that week.
6/ Jun 2023: The SEC sues
> 13 charges against Binance and CZ.
> BNB fell from $305 to $220 in about a week.
> In May 2025 the SEC dropped the case for good.
7/ Nov 2023 to Sep 2024: Guilty plea and prison
> This one was Binance's own failure: weak anti-money laundering controls. $4.3B in penalties, CZ stepped down, Richard Teng took over.
> BNB fell from $272 to $224 that week.
> CZ served 4 months in a US prison. While he was inside, BNB hit a new high of $720. In Oct 2025 he was pardoned.
8/ Oct 2025: The $19B crash
> On Binance, USDe, wBETH and BNSOL lost their peg, and users who held them as collateral got liquidated.
> Binance paid back $283M within about a day and changed how it prices that collateral.
> BNB wicked to $860 in the crash. 3 days later it hit its all-time high, about $1,370.
9/ Oct 29, 2026: The biggest hack ever
> Hot wallets were drained starting around 20:24 UTC. Binance's first findings: a DevOps engineer's laptop was compromised, which let the attacker into a service container to send unauthorized withdrawals. No sign of a private key leak.
> Total impact: about $6.3B. About $3B is already frozen on-chain.
> Binance says it will cover every loss from SAFU and company funds, and user funds are safe. Deposits and withdrawals are paused, the attacker's access is revoked, and an updated Proof of Reserves comes after the fix.
> BNB wicked to $680 and sits near $710.
> The fix has started. The comeback? Not written yet.
Every single time, Binance paid people back, fixed the hole and came back bigger. Today it has more than 300M users.
That record still doesn't make any place 100% safe. Spread your coins, and only trust official Binance accounts for updates. Scammers love weeks like this.
Which one did you live through? $BTC
Experience, not financial advice.