Hacking News
Binance SAFU Fund Coins Vanish into Mystery Wallet
Binance's SAFU emergency reserve, which held 15,000 BTC, lost half of its 7,500 BTC holdings to a hot-wallet hack. The remaining 7,500 BTC were moved to an unlabeled, high-volume address. The coins have since been transferred to a seasoned wallet with 2,400+ transactions, and 9,346 BTC were sent to a single output. The Binance incident report attributes the hack to a tainted developer install and an abused internal wallet service, but does not mention SAFU. The fund's rule to refill SAFU to $1B from BTC price moves has not been triggered due to spending, and the exchange has not disclosed who currently holds the remaining coins.