Binance deploys half of SAFU bitcoin reserves after record hack

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Binance SAFU bitcoin hack response

Highlights

Binance deployed 7,499 BTC (about $583 million) from its SAFU fund after a record crypto hack halved reserves from 15,000 BTC.
Following the $583 million theft attributed by the FBI to North Korea’s TraderTraitor, Binance temporarily suspended and now gradually resumes withdrawals while repurchasing illiquid tokens.
Binance’s Saturday proof-of-reserves snapshot confirms at least 1:1 backing for user assets across 10 major cryptocurrencies, with full replenishment timeline for SAFU after the hack unspecified.

SAFU deployment and reserve position

As reported by Cointelegraph, Binance confirmed a transfer of 7,499 Bitcoin on Saturday and linked it to a partial deployment of its Secure Asset Fund for Users, or SAFU. By Monday, the publicly disclosed wallet holds about 7,500 BTC, worth roughly $583 million, down from about 15,000 BTC before the transfer.

The exchange says it is using its corporate treasury, SAFU and part of its futures insurance fund to cover the losses tied to Thursday's attack. The theft, described as the largest in cryptocurrency history, prompts Binance to suspend withdrawals temporarily while it works to replace the stolen assets.

The FBI says on Saturday that North Korea is behind the attack and identifies the hackers as TraderTraitor. Binance begins reopening withdrawals in phases on Sunday and says it continues buying the remaining less-liquid tokens through market and over-the-counter transactions.

Proof-of-reserves update and replenishment questions

Binance says users can now verify their balances against its Saturday proof-of-reserves snapshot after completing the related cryptographic proof. The exchange says the snapshot shows customer holdings in 10 cryptocurrencies, including Bitcoin, Ether and USDT, are backed at least 1:1.

The company plans another snapshot on Wednesday covering more tokens, with the accompanying proof expected to take another 40 to 50 hours to generate. Binance's SAFU policy says the fund is regularly monitored and rebalanced, and states that if its market value falls below $800 million because of Bitcoin price fluctuations, the exchange will restore it to $1 billion.

The policy does not specify a timeline for replenishing funds withdrawn after a security incident. Binance does not immediately respond to questions about SAFU's remaining reserves, any further deployments and plans to refill the fund.

In our earlier article on the Q3 2026 cybersecurity funding surge, we highlighted how global cybersecurity and privacy startups raised $6.8 billion as late-stage mega-rounds pushed totals higher even while overall deal counts fell. We also noted that AI-driven and identity security companies attracted much of the capital, alongside an active M&A environment that underscored how intensifying threat pressures are shaping both investment and consolidation in the sector.

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