Binance has officially confirmed the hack, and after checking Arkham, I found that around 16,000 BTC had moved out of Binance's hot wallets. Looking at the Bitcoin outflows alone, I think Binance's SAFU fund should be enough to cover the losses. However, with total reported losses reaching around 7.8 trillion KRW (roughly $5.5 billion), including assets other than Bitcoin, I think it could take quite some time to fully resolve this situation. More importantly, it's not just about the amount lost. The fact that a major exchange like Binance could suffer a hack of this scale is a serious concern in itself. This could damage confidence across the crypto market and become a major bearish factor for investors. With the U.S. midterm elections approaching, this is an unexpected development. I'll be watching closely to see how major market players use this situation.