Binance Transfers 7,499 BTC From SAFU as Recovery Reaches 90%

Binance completed a transfer of 7,499 Bitcoin (BTC) from its Secure Asset Fund for Users (SAFU) on Saturday, Oct. 31, adding to the exchange's effort to replace assets lost in a breach.

The transfer was valued at about $581 million. Binance put replenishment at about 90% of the lost amount, up from roughly 80% previously. Binance estimated losses from the breach at about $6.3 billion and said it had allocated more than $6.34 billion in company funds to cover them.

The funding effort includes a partial use of SAFU, funds from Binance's futures insurance pool and its corporate treasury. Binance said the insurance fund remained above its required minimum after the reallocation.

The remaining 10% involves less-liquid tokens that take longer to source. Binance plans to acquire those assets through market purchases and over-the-counter trades, and restore SAFU to about $1 billion.

Withdrawals remained paused pending testing, with Binance on track to reopen them Sunday, Nov. 1.