Binance Plans to Draw Half of SAFU Fund for Breach Losses

Binance plans to direct half of its SAFU reserve to help cover losses from a security breach at the exchange, while leaving the remaining half in the fund.

The planned allocation would come from the Binance SAFU fund address. The announcement included detailed information about that address and set out the reserve’s planned division: 50% would go toward the breach-related losses, with 50% remaining in SAFU.

The announcement describes a planned allocation rather than a completed transfer. Binance’s plan divides the reserve between covering the losses and retaining funds in SAFU. The 50% allocation applies to the reserve, while the other half would continue to be held in the fund after the move.

SAFU is the reserve named in the announcement. Its address is the source of the planned allocation, and the plan would leave half of the fund in place. That makes the reserve’s 50-50 division the central detail of Binance’s response to the breach.