Binance halves SAFU wallet to 7,500 BTC after $6.3 billion hack, pledges $1 billion refill

Binance, one of the world’s largest cryptocurrency exchanges, has reduced the balance of its Secure Asset Fund for Users (SAFU) wallet from approximately 15,000 BTC to 7,500 BTC following a recent $6.3 billion hack. The emergency wallet, intended as an insurance fund to cover user losses, underwent two large transfers on October 31, dramatically cutting its reserves in response to hack-related payouts. On October 31, at 14:45 UTC, 1 BTC was moved from Binance’s SAFU wallet, followed six minutes later by a much larger transfer of 7,499 BTC. Blockchain records show these transactions occurred in blocks 973983 and 973984.