Binance co-founder Changpeng Zhao responded publicly to Elon Musk's social media commentary about the exchange's reported $6.3 billion security breach on October 29, 2026. Musk's online remarks prompted Zhao to ask him to cease publicly mocking the incident.
Musk initially commented on the suspected theft with the phrase "Everyday is Zeroday," referencing security vulnerabilities. He also responded to an earlier CZ warning about malicious email attachments with fire and laughing emojis. Zhao then stated: "Elon, have a lot of respect for you, but bad time to troll. Please stop."
Zhao followed his request by drawing attention to Binance's financial position. He noted that Binance's SPCX shares, acquired through the exchange's $500 million investment in Musk's 2022 Twitter acquisition, are now valued at more than $1 billion. "Would appreciate if you show a little support," Zhao wrote.
The investment's path illustrates the interconnected nature of the holdings. Musk's xAI company later acquired X, and was subsequently merged into SpaceX, which went public earlier this year. Zhao's valuation suggests Binance's investment exposure has grown substantially beyond its original $500 million commitment.
Binance co-founder Yi He joined the conversation with a financial update, stating that the exchange's annual revenue is sufficient to cover the losses without selling the SpaceX-linked shares. She wrote: "Reporting to the major shareholder: Our company's revenue for the year is sufficient to cover the losses, so we do not yet need to sell the SpaceX shares you are bullish on."
CZ acknowledged separately that losses might exceed estimates circulating online while assuring followers that Binance would cover them. The exchange has discussed using frozen assets, its Secure Asset Fund for Users (SAFU), and corporate resources to address the incident. Final losses remain uncertain as investigators trace the stolen funds.
