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BeInCrypto· Lockridge Okoth·· 1d ago

Binance Founder CZ Warns Elon Musk About SpaceX Shares After $6.3 B Hack

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North Korea‑linked hackers stole about $6.3 B from Binance on Oct. 29, leaving the exchange roughly $2 B short after freezing $3 B of assets. Binance’s emergency SAFU fund holds about $1.17 B in Bitcoin, but CZ says the remaining gap is manageable because Binance holds over $1 B in SpaceX shares from its $500 M investment in Musk’s 2022 Twitter takeover. Musk has been mocking the incident on X, prompting CZ to remind him that Binance’s SpaceX holdings could cover the loss. Binance has paused withdrawals and plans to resume them within 48 hours, with a public reserve count to follow.

Source: BeInCrypto · beincrypto.com