Published 20:02
Elon Musk is mocking Binance following the largest crypto theft ever.
“Please, stop,” the company’s founder writes to the tech billionaire.
Overnight into Thursday, hacker groups managed to seize assets worth 62 billion kronor.
Bloomberg describes it as the crypto industry’s largest-ever theft, and analysis firms TRM Labs and Chainalysis have identified North Korean hackers as being responsible for the heist.
Since Thursday night, Binance has been working intensely to track and freeze the stolen assets.
Now, a new problem has emerged: Elon Musk.
On Friday, Binance founder Changpeng Zhao responded to a post on X claiming that the company’s total loss amounts to approximately one billion dollars.
“Please, stop”
Billionaire Elon Musk reacted to the post with a grimacing emoji.Changpeng Zhao fired back.
“Elon, I have great respect for you, but this is the wrong time to troll. Please, stop.”
He continues:
“Our shares in SpaceX (from our $500 million investment in your acquisition of Twitter) are worth over a billion dollars. I would appreciate it if you showed some support. Thanks!”
Denies plans to sell shares
The response raised questions as to whether Binance intends to sell shares to cover the losses—a notion that co-founder Yi He has denied, Reuters reports.So far, the company has managed to freeze assets worth approximately $30 billion, and on Saturday, it stated that it has covered 90 percent of the stolen funds out of its own pocket.
“Binance will bear the financial consequences of the theft—not our users,” the company wrote in an update.
The circumstances surrounding the incident are currently under investigation. Binance has indicated that the hackers likely gained access via a laptop belonging to one of the company’s software developers.








