Musk denies viral claim urging Binance users to move funds

Elon Musk stated on Saturday, November 7, 2026, that he never posted a claim urging Binance users to move their funds, describing the viral message as fabricated.

The Tesla CEO responded directly to a post that had circulated on X, asserting that the quote attributed to him was made up. This denial came after Binance founder Changpeng “CZ” Zhao flagged the same post as false.

Origin of the Viral Claim

A crypto influencer account published the claim on Saturday morning. The post alleged that Musk blamed Binance’s 80% market share for holding the cryptocurrency sector back. It further claimed that Musk wanted users to move funds off Binance to restore competition and spark a bull run.

The post cited no original statement from Musk. It urged users to move funds to rival exchanges while Binance was still dealing with the fallout from a roughly $6.3 billion hack. The timing of the post coincided with ongoing security concerns surrounding the exchange.

Verification and Response

Within about an hour of the influencer’s post, CZ Zhao told the account not to spread false information. His reply included an answer from Grok, the AI chatbot built into X. Grok searched Musk’s account and found no matching post, labeling the story as fabricated.

Musk then settled the matter in the same thread. The billionaire wrote: “Yeah, I never wrote anything like that. This is made up.” This direct response from Musk confirmed the findings of the AI tool and the initial assessment by CZ Zhao.

The exchange of messages occurred against a backdrop of recent tensions between the two figures. In late October, Musk had been trolling the Binance hack on X. This week, the two engaged in a crash-day meme spat, indicating that their rivalry remained active. However, in this specific instance, both sides agreed on the veracity of the claim.

Binance customers have ongoing concerns regarding security. The recent breach has been tied to North Korean hacking operations, which have taken billions of dollars from crypto firms this year. Strategy chairman Michael Saylor has also warned that AI hackers targeting exchanges represent the industry’s next threat. In this environment, a fake post from a high-profile figure like Musk can test how quickly exchanges, founders, and AI tools can correct the record.