Binance faced a reported $6.3 billion security breach on Oct. 29, 2026, but final losses remain uncertain as investigators trace the funds. After Elon Musk joked about reports of the suspected theft, Binance co-founder Changpeng Zhao asked him to stop and said shares linked to Binance’s $500 million investment in Musk’s Twitter takeover were worth more than $1 billion. The shares’ ownership structure and valuation have not been independently established.
Binance co-founder Yi He said the company’s annual revenue could cover the losses without selling those shares. Zhao separately said losses might exceed estimates circulating online but that Binance would cover them.
