Binance Moves Half of SAFU Bitcoin Reserves After $100M Hack, Fund Drops to 7,500 BTC

Binance has transferred 7,499 Bitcoin out of its Secure Asset Fund for Users (SAFU), leaving the emergency insurance pool with approximately 7,500 BTC—roughly half its previous holdings. The move comes shortly after a $100 million exploit on the BNB Chain, which the exchange said it would cover using SAFU funds. The wallet now holds around $150 million in Bitcoin at current prices, down from the $1 billion valuation Binance has historically maintained for the fund. The exchange has not provided a timeline for replenishing SAFU to its previous level. The transfer underscores the real-world use of exchange insurance funds and raises questions about how quickly Binance can restore its safety net. As one of the largest crypto exchanges, Binance’s ability to absorb losses is closely watched by users and regulators. The reduced SAFU balance may heighten concerns about asset security in the wake of the hack. Binance has assured users that funds are safe, but the lack of a clear replenishment plan leaves uncertainty. For now, the exchange’s emergency reserves are at their lowest point in years.