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Elon Musk cites report on Binance outflows and comments, Everyday is Zeroday

On October 29, 2026, Elon Musk quoted a post from The Kobeissi Letter on X, which said that Binance had been hacked, with wallets on the Ethereum, Bitcoin, and TRON networks seeing a combined outflow of about $5.7 billion, including about $1.45 billion in Bitcoin and $875 million in ETH, and said that if confirmed it would be the largest hack in crypto history. Musk replied to the quote that Everyday is Zeroday.

The $5.7 billion figure came from social media reports and has not yet been confirmed by Binance officially or by an independent on-chain monitoring agency. Earlier that same day, on-chain data showed large outflows from Binance hot wallets, and multiple media outlets estimated the scale at about $2.5 billion to $3.5 billion; Binance officially confirmed it was investigating a potential security issue and said it had not confirmed any impact on user funds; founder Changpeng Zhao said that it did look like a hack on Binance, while also saying user funds were safe and expressing hope to fully cover losses as a shareholder.

Tether and Circle have each frozen more than 1.567 billion USDT and about 823 million USDC, respectively. Musk did not further explain his comment, nor did he provide additional data or sources.

Original sources:

  1. Title: Everyday is Zeroday Publisher: Elon Musk (@elonmusk) Publication date: 2026-10-29 URL: https://x.com/elonmusk/status/2115935053347786773 Source type: original post by the party involved Verification status: the full post and quoted content were read in this article, verification date 2026-10-29 Supporting content: Musk quoted Kobeissi Letter’s report on about $5.7 billion in outflows from Binance and commented that Everyday is Zeroday

  2. Title: BREAKING: Binance has been hacked with wallets across the Ethereum, Bitcoin, and TRON networks seeing outflows of -$5.7 billion... Publisher: The Kobeissi Letter (@KobeissiLetter) Publication date: 2026-10-29 URL: https://x.com/KobeissiLetter/status/2115926246916038921 Source type: original post by the party involved Verification status: the full post was read in this article, verification date 2026-10-29 Supporting content: the account said Binance had been hacked and that about $5.7 billion had flowed out (not independently verified)

  3. Title: User funds are safe! It does look like a hack on Binance... Publisher: Changpeng Zhao (@cz_binance) Publication date: 2026-10-29 URL: https://x.com/cz_binance/status/2115915423174853077 Source type: original post by the party involved Verification status: the full post was read in this article, verification date 2026-10-29 Supporting content: CZ said it appeared to be a hack, user funds were safe, and Tether and Circle froze amounts (background)

  4. Title: Our teams are aware of reports of a potential security issue... Publisher: Binance (@binance) Publication date: 2026-10-29 URL: https://x.com/binance/status/2115915708504900039 Source type: official announcement Verification status: the official post was read in this article, verification date 2026-10-29 Supporting content: Binance confirmed it was investigating and had not confirmed any impact on user funds (background)

ABAB AI Insight

Elon Musk’s Everyday is Zeroday comment directly quoted a post describing the Binance outflows as a confirmed $5.7 billion hack. That figure is higher than the roughly $2.5 billion to $3.5 billion range reported by most on-chain monitors and media outlets that same day, and neither Binance nor Changpeng Zhao has confirmed the final loss amount or any damage to user funds. Musk did not provide independent data; his comment was a response to existing reporting, not a new source of facts.

Compared with Musk’s previous brief comments on crypto market events, this one directly ties into abnormal movement from an exchange’s hot wallets. After the roughly $1.5 billion Bybit incident in 2025, exchanges have repeatedly faced paths for covering user assets; this time, Tether and Circle quickly froze more than $2.3 billion in stablecoins, shortening the attacker’s potential cash-out window. Musk’s Zeroday wording applies a cybersecurity term to a market event, but it does not change the fact that the event remains under investigation.

If Binance’s later official statement confirms a loss smaller than the social media figure, the market pricing of the largest hack narrative will retrace; if it is confirmed to be close to or above the earlier Bybit scale and requires coverage, pressure on exchange reserves and insurance mechanisms will rise. The key watch item is whether Binance issues a clear loss amount and a coverage statement.

ABAB News · Cognition Law

  1. There is a confirmation lag between social media outflow figures and official investigative results; freezing actions occur before the final characterization.

  2. Commenting on unverified reports does not automatically raise the evidentiary value of those reports.