According to Cointelegraph, Binance has tapped approximately half of its SAFU Bitcoin holdings by transferring 7,499 BTC linked to a hack incident. The exchange’s SAFU Bitcoin wallet now contains about 7,500 BTC following the transfer. No timeline has been provided for restoring the original reserve amount.
The release includes proof of the reduced balance, confirming the scale of the withdrawal tied to the hack-related transaction. Binance did not specify the purpose of tapping the reserve or provide details on recovery plans in the statement.
SAFU is Binance’s emergency reserve fund intended to support users in case of platform issues. The Bitcoin held in this wallet was reduced after the transfer, but no further information about future replenishment or management of the reserve was included.
