Musk Debunks Fake Viral Claim

Did Elon Musk really tell investors to leave Binance? On November 7th, a viral post on X falsely claimed Musk criticized the exchange and urged traders to exit.

The post claimed Binance's 80% market share was holding the crypto industry back. Published by the account @ThatMartiniGuy, it featured side-by-side images of Musk and a Dogecap next to Binance's logo.

Binance co-founder Changpeng Zhao responded within hours, telling the poster not to spread false information. Zhao attached a Grok AI response confirming Musk never posted those claims.

The rumor gained traction following an October 29 security incident at Binance. Attackers moved roughly $6.3 billion from hot wallets after a compromised employee laptop.

Binance pledged over $6.34 billion in corporate treasury and reserve funds to cover user losses. Musk had lightly trolled the earlier security breach by posting "Every day is zero day." An account manager subsequently apologized for making the false market share post.

Musk explicitly confirmed the post was fabricated, replying, "Yeah, I never wrote anything like that. This is made up."