COINTELEGRAPH · 2026-11-02 13:21 UTC

Binance taps half its SAFU Bitcoin holdings, releases reserve proof

Binance transferred 7,499 BTC from its SAFU emergency fund on Saturday following a $6.3 billion hack attributed to North Korea, reducing the wallet from ~15,000 BTC to ~7,500 BTC. The exchange has replenished approximately 95% of affected assets using its corporate treasury, SAFU, and futures insurance fund, with withdrawals reopening in phases. Binance released proof-of-reserves showing customer holdings in 10 cryptocurrencies were backed at least 1:1, with no specified timeline for replenishing the SAFU fund after security incidents.

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