Hoskinson Points to ADA Design After Reported $6.3B Binance Hack

CaptainAltcoin reports that Cardano founder Charles Hoskinson addressed the reported $6.3 billion Binance hack of October 29, explaining why ADA was not among the assets drained. His account says ADA’s wallet and transaction architecture made the asset harder to steal through the attack path used against Binance.

The explanation focuses on structural differences between ADA and the assets affected, according to the outlet. The available coverage does not provide technical details about the exploited path, the transactions involved, or specific vulnerabilities, so it does not establish that the same approach was technically incapable of affecting ADA.

CaptainAltcoin is the only outlet supplying coverage of Hoskinson’s comments. Its account says ADA remained outside the reported losses, while no additional source in the supplied material independently confirms his stated reasons or provides a broader assessment of the incident.

Cardano was trading at $0.177457, up 1.59% over 24 hours but down 8.83% over seven days, with a $6.67 billion market capitalization. The total crypto market stood at $2.54 trillion and was broadly flat; Bitcoin rose 0.91% over 24 hours, while the Fear & Greed index registered 29, indicating a Fear reading. The episode matters because it directs attention to architecture as a security consideration, but the supplied coverage does not establish whether the attack method could be reproduced against ADA under other conditions.