Binance Moves 7,499 Bitcoin From SAFU After $6.3 Billion Hack

Binance moved 7,499 Bitcoin (BTC) from its Secure Asset Fund for Users to help cover losses from a $6.3 billion hack, cutting the fund’s disclosed BTC balance in half and leaving no restoration timetable. The transfer on Saturday, Oct. 31, left about 7,500 BTC in the wallet, worth roughly $583 million on Monday, Nov. 2. That was down from about 15,000 BTC before the transfer. Binance’s SAFU policy calls for rebalancing if the fund’s market value falls below $800 million because of Bitcoin price fluctuations, with the goal of returning it to $1 billion.