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UNIBinance SAFU Bitcoin moves again to unlabelled wallet, Unchained data shows
The 7,500 BTC Binance took from its user safety fund to cover a $6.3bn hack has been sent on to an unlabelled, high-volume address, leaving SAFU at about half its former size.
Why it matters: The movement of half of Binance's emergency user fund, and its fall below the exchange's own refill threshold, gives holders a clearer view of how the $6.3bn hack is being covered.
Key points
- Unchained data shows 7,500 BTC left an intermediate address for an unlabelled wallet at 05:56 UTC on 3 Nov.
- The wallet split the coins into 150 outputs of about 50 BTC each, and 4,800 BTC was later bundled into a 9,346 BTC transfer.
- SAFU now holds just over 7,500 BTC, worth about $572m, below the $800m refill line in Binance's own FAQ.
Binance's SAFU Bitcoin has moved again, with the 7,500 BTC taken from the exchange's user safety fund sent to an unlabelled wallet, according to Unchained data cited by Bitcoin.com News. The coins left an intermediate address in a single transaction at 05:56 UTC on 3 Nov, having sat there for three days after leaving Binance's published SAFU address on 31 Oct.
The receiving wallet has processed more than 2,400 transactions, the data shows.
Binance's FAQ says it will rebalance the fund to $1bn if its value falls below $800m through price swings, a rule that covers price drops rather than spending.
Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.