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Binance's SAFU: 7,500 BTC Moved
7,500 BTC from Binance's Secure Asset Fund for Users (SAFU) was moved to an intermediate address on October 31 and then to an unlabeled address on November 3. The fund's remaining 7,500 BTC is worth around $583 million. Binance has committed to replenishing the SAFU to $1 billion.
The 7,500 BTC that left Binance's SAFU on October 31 was moved again to an unlabeled address on November 3, according to public blockchain data. This address has handled over 2,400 transactions and split the coins into 150 outputs of about 50 BTC each.
Binance said the partial deployment of SAFU was part of covering losses from a $6.3 billion hot-wallet hack, alongside its Futures insurance fund and corporate treasury. The exchange has committed to replenishing the SAFU to $1 billion.
The SAFU address originally held 15,000 BTC, which was deposited across five transactions from February 2 to February 12. It has received only minimal deposits since the October 31 transfers and currently holds around $583 million in BTC.
Binance has seen net inflows of $3.22 billion over 24 hours, according to DefiLlama data, despite net outflows of $12.17 billion over seven days. The exchange has also published a zero-knowledge proof of reserves for several tokens.
Source: unchainedcrypto.com
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