Key facts
- Binance is covering losses from a $6.4 billion crypto hack using company funds.
- The exchange holds SpaceX shares valued at over $1 billion.
- North Korea-linked group TraderTraitor is suspected of carrying out the hack.
- Tether and Circle froze $2.39 billion of the stolen assets.
Binance co-founder Changpeng Zhao, known as CZ, publicly addressed Elon Musk on Friday, October 30, 2026, urging him to stop "trolling" the exchange after a $6.4 billion hack. CZ reminded Musk that Binance holds SpaceX shares valued at over $1 billion, which he suggested could be used to show support, though he later clarified he was not suggesting selling them. The exchange is covering losses from the hack, which was attributed to the North Korea-linked hacking group TraderTraitor. Tether and Circle have frozen $2.39 billion of the stolen assets.