Hasn't hurt any of my knives, regardless of if wood, bone, plastic (excluding Celluloid: I don't carry a knife with celluloid covers) G10, or whatever. (I do not possess any horn or antler covered knives other than the 2018 Blade Forums 301. It is not used around the shop or near lubricants or solvents.)
I do wipe them down as soon as I'm finished.
I see no reason to let it soak.