Binance confirmed it transferred 7,499 Bitcoin from its Secure Asset Fund for Users (SAFU) as part of efforts to cover losses from a reported $6.3 billion hack. Its publicly disclosed emergency Bitcoin wallet then held about 7,500 BTC, worth $583 million, down from about 15,000 BTC. The FBI attributed the attack to North Korean hackers it identified as TraderTraitor.
Binance began reopening withdrawals in phases and said it had replaced about 95% of the affected assets. It said it was still buying the remaining, less-liquid tokens and was drawing on its corporate treasury, SAFU and part of its futures insurance fund. SAFU’s policy sets no deadline for replacing funds withdrawn after a security incident, and Binance did not immediately answer questions about the fund’s remaining reserves or replenishment plans.
Binance also said users could verify balances against a proof-of-reserves snapshot that showed customer holdings in 10 cryptocurrencies backed at least 1:1. It planned another snapshot covering more tokens; the accompanying proof was expected to take 40 to 50 hours to generate.
