Binance Moves 7,500 Bitcoin Worth $572 Million to Unlabeled Wallet

Binance transferred 7,500 Bitcoin (BTC), valued at about $572 million, from its Secure Asset Fund for Users (SAFU) to an unlabeled wallet early Nov. 3, leaving the fund below Binance’s $800 million rebalancing threshold.

The transfer occurred at 12:56 a.m. ET (05:56 UTC). On-chain details showed no label for the receiving address and did not identify its owner or the purpose of the move. The wallet divided the BTC into about 150 outgoing transfers, each close to 50 BTC. Some of those transfers were later combined and sent onward.

The same coins had left SAFU on Oct. 31 to help cover losses from a hot-wallet theft. SAFU’s remaining holdings stood slightly above 7,500 BTC, valued at about $572 million. Binance has committed to restoring the fund to about $1 billion but has not announced when it will do so. Binance has not explained the Nov. 3 transfer.