Binance’s SAFU (Secure Asset Fund for Users) Bitcoin wallet balance has been nearly halved, now holding approximately 7,500 BTC after transferring 7,499 BTC connected to a recent hack.
The exchange has released a reserve proof to confirm these holdings but has not provided a timeline for replenishing the $1 billion fund designed as a safety net for users.
The impact raises concerns about the fund’s ability to buffer future security incidents while Binance monitors the situation closely.