Changpeng Zhao Asks Elon Musk to Stop Mocking Binance After the $6.3 Billion Hack

Binance cofounder and former CEO Changpeng Zhao asked Elon Musk on Friday to stop trolling the exchange and show some support instead. The request came after Musk, who runs SpaceX and Tesla, posted a string of emojis on X, from laughing faces to grimacing ones, that appeared to make fun of the $6.3 billion hack. Zhao wrote that he has a lot of respect for Musk, but that it was a bad time to troll.

Binance’s SpaceX Stake and the Twitter Deal

Zhao pointed out that Binance holds shares in Musk’s businesses. Those shares come from the company’s $500 million investment in Musk’s Twitter takeover, and Zhao says they are now worth more than $1 billion. That is still a small slice of SpaceX, which is valued at roughly $2 trillion. He closed by saying a little support would be appreciated.

Past Clashes Between Binance and Musk

This is not the first public spat between the two. In November 2021, Binance suspended Dogecoin withdrawals because of a wallet glitch, a move Musk called shady. Zhao answered by pointing to a Tesla recall of almost 12,000 US vehicles over software glitches and hardware problems.

Binance Hack Status and Frozen Assets

Investigators suspect TraderTraitor, a North Korean state sponsored hacking unit, was behind the attack. Binance froze all withdrawals and deposits after the breach but has since restored deposits. Around $3 billion in stolen crypto assets has been frozen so far.