Binance co-founder Changpeng Zhao asked Elon Musk to stop trolling on October 30 as the exchange dealt with a security breach, citing SpaceX shares he valued at more than $1 billion as part of an appeal for support.
"Elon, have a lot of respect for you, but bad time to troll. Please stop," Zhao wrote on social media. Musk had posted a grimacing-face emoji in response to the exchange's situation.
Zhao linked the SpaceX holdings to a $500 million investment in Musk's Twitter takeover and referred to them as "our SPCX shares." Fellow co-founder Yi He responded that Binance's annual revenue was sufficient to cover the losses, stating the company did "not yet need to sell" the SpaceX shares.
In a separate funding update on October 30, Binance said it had reserved more than $6 billion in company funds to address the incident. The company stated that $5 billion of those reserved funds was already held in the affected token assets, with the remainder being purchased through market and over-the-counter channels.
Binance noted that some token purchases could take longer due to low liquidity and settlement delays. The company separately reported $3 billion in frozen assets, which remain subject to ongoing recovery and verification efforts.
