I think Binance ceo has debunked this and it is not a hack. What we do not know is if it was a cover up by Binance. However, it is still a fud. I can't begin to imagine how the market will crash if Binance ever gets hacked truly.
There are projects that do not run an ico or ieo on ethereum blockchain that are doing very well regardless of the price of eth. But you are right in the aspect that majority of shitcoins in the crypto space are eth-based.