The Binance hack

“Bad time to troll”: Binance and Elon Musk, post by post

As Binance counted a theft of about $6.3 billion, Elon Musk posted about it three times on X. Co-founder Changpeng Zhao asked him to stop and pointed to Binance's SpaceX shares; co-CEO Yi He said they did not yet need to be sold. All times ET.

1. Oct. 282:51 p.m.

   CZChangpeng Zhao, Binance co-founder

   Do NOT click links in emails. Do NOT download attachments. Even from people you trust, they may unknowningly have a virus on their computer.

2. Oct. 29 · 4:05 p.m. — First funds leave Binance, on the XRP Ledger. Investigators say most of the theft happened in the next 20 minutes. reported

3. 6:23 p.m.

   CZChangpeng Zhao, Binance co-founder

   Quoting @0xngmiBinance has 144bn of assets under custody, with USDT and USDC frozen the total loss now is around ~1bn, which is only 0.69% of their total assets under custody They'll cover it from balance sheet easily

   Loss might be a bit higher than that, but will cover. 🙏

4. 6:33 p.m.

   EMElon Musk

   Quoting @KobeissiLetterBREAKING: Binance has been hacked with wallets across the Ethereum, Bitcoin, and TRON networks seeing outflows of -$5.7 billion. The hack includes $1.45 billion worth of Bitcoin and $875 million worth of ETH. If confirmed, this would mark the biggest hack in crypto history. …

   Everyday is Zeroday

5. Oct. 29 · 8:10 p.m. — Binance's hot wallet replaces the permission the attacker had set up. measured

6. 11:12 p.m.

   EMElon Musk

   Replying to @cryptoblaneyThe Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto. First, Tether froze $1.5 billion in USDT. Then Circle froze another $800 million in USDC. …

   Super intelligence agents will at some point do this to gain currency for themselves, not a human

7. Oct. 3012:33 a.m.

   EMElon Musk

   Replying to @HuaweiMate6bruh 🙄 [with an image]

   😬

8. 5:19 a.m.

   CZChangpeng Zhao, Binance co-founder

   Replying to Elon Musk

   Elon, have a lot of respect for you, but bad time to troll. Please stop. Our SPCX shares (from our $500m investment in your Twitter takeover) are worth more than a billion. Would appreciate if you show a little support. Thanks!

9. 5:33 a.m.

   YHYi He, Binance co-CEO

   Replying to Changpeng Zhao

   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.💁‍♀️

10. 5:33 a.m.

    CZChangpeng Zhao, Binance co-founder

    Replying to @cryptobballwhat does your SPCX shares do anything here? lol

    Rough math: $6.x b hack, $3b frozen, $1.x b SAFU fund Gap is about $2b, we have $1.x billion in SPCX alone. Remaining gap is (still painful, but) manageable. 🙏

11. No public reply from Musk to Zhao or Yi He found as of Oct. 30, 10:56 a.m. ET.