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.