Bitcoin▼ Bearish

Binance draws down its SAFU Bitcoin fund after a hack-linked transfer

TradingGain Newsroom·1h ago·02 Nov 2026, 13:21 UTC

Binance has moved about half of the Bitcoin held in its SAFU fund, and it has published proof of its reserves. The transfer is tied to a hack, and the company has not said when the $1 billion fund will be restored. Traders may see this as a sign of stress at a major exchange, so they should watch how the story develops.

BTCAt the time of writing, Bitcoin traded at $77,679 (-0.34% in 24h).Live price →

Why it matters

A large share of Binance's SAFU Bitcoin reserve has been moved out after a hack-linked transfer.
The SAFU fund is valued at $1 billion, and no timeline for restoring it has been given.
Published reserve proof may help show how much Bitcoin the exchange still holds.

What to watch next

Watch for any announced timeline to restore the $1 billion SAFU fund and any further transfers from the Bitcoin wallet.

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This brief is written by TradingGain from public reporting by Cointelegraph.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.