Binance taps half its SAFU Bitcoin holdings, releases reserve proof
Binance’s SAFU Bitcoin wallet now holds about 7,500 BTC after a 7,499 BTC transfer linked to the hack, with no timeline for restoring the $1 billion fund.
Binance’s SAFU Bitcoin wallet now holds about 7,500 BTC after a 7,499 BTC transfer linked to the hack, with no timeline for restoring the $1 billion fund.
Binance’s publicly disclosed emergency Bitcoin wallet held roughly half its previous balance on Monday after the exchange tapped its user protection fund to cover losses from Thursday’s $6.3 billion hack.
The exchange confirmed a transfer of 7,499 Bitcoin (BTC) on Saturday, linking it to the partial deployment of its Secure Asset Fund for Users (SAFU).
The exchange is using its corporate treasury, SAFU and part of its futures insurance fund to cover the losses.