Technology · Singapore Bureau
Binance co-founder tells Musk 'bad time to troll' after major hack
Changpeng Zhao has pushed back against Elon Musk's apparent jabs on X following a significant security breach at the cryptocurrency exchange. The exchange faced one of its largest hacking incidents amid the public exchange between the two tech executives.
LSN Singapore ·
Binance co-founder and CEO Changpeng Zhao has called out Elon Musk for what he characterized as ill-timed criticism following a major security incident at the cryptocurrency platform. Musk had posted messages on his X platform that appeared to target Zhao, prompting the Binance executive to respond publicly.
The exchange has been grappling with the aftermath of a significant hack that compromised user funds and security protocols. The incident marks one of the most serious breaches faced by the world's largest cryptocurrency exchange by trading volume.
Zhao's rebuke to Musk highlighted tensions between the tech industry's prominent figures, with the Binance chief suggesting that public criticism was inappropriate timing given the platform's security challenges. The exchange has been working to address the breach and restore confidence among its user base.
The incident has drawn broader attention to cryptocurrency exchange security practices at a time when digital asset platforms continue to face scrutiny from regulators globally. Binance has committed to implementing additional security measures and reviewing its infrastructure in response to the hack.