MV Capital | Binance Moves $581 Million in Bitcoin From SAFU Fund as Asset Recovery Hits 90%

The exchange transferred 7,499 BTC from its emergency reserve on October 31 to cover losses from a recent $6.3 billion breach and aims to reopen withdrawals on November 1

Binance completed a transfer of 7,499 Bitcoin from its Secure Asset Fund for Users on October 31, 2026, as part of efforts to replace assets taken in a recent security breach. The movement was valued at approximately $581 million and directed funds from the exchange’s disclosed SAFU address to a single receiving address. The transaction was confirmed in a block timestamped at 10:51 a.m. ET.

Binance stated that the SAFU fund transfer is complete. On-chain data showed the receiving address held 7,500 BTC afterward, with no confirmed or pending outgoing transactions at the time of reporting. One set of records indicated the overall movement occurred across three transactions, after which the address retained a balance matching the transferred volume.

Recovery Progress and Funding Sources

The exchange reported that replenishment of the lost assets had reached about 90 percent, an increase from roughly 80 percent in an earlier update. Binance estimated the total breach at approximately $6.3 billion and said it had allocated more than $6.34 billion in company funds to cover the shortfall.

The recovery draws on a partial deployment of the SAFU reserve, a portion of Binance’s futures insurance fund, and its corporate treasury. Following the reallocation, the futures insurance fund remained above the minimum coverage level required for risk management.

Bitcoin and nine other assets were already fully backed. The outstanding 10 percent consists of less-liquid tokens that take longer to source. Binance plans to acquire those remaining assets through market purchases and over-the-counter trades.

Binance also pledged to restore the SAFU fund to about $1 billion while continuing the asset replacement process.

Withdrawal Timeline and Next Steps

Withdrawals remained paused pending rigorous testing. Co-CEO Richard Teng said services would stay suspended until the testing is complete. He added that Binance would share a full proof-of-reserves report by the following Monday, with an initial view possibly available earlier.

In its October 31 update, the exchange said it remained on track to reopen withdrawals on Sunday, November 1, 2026.

The SAFU fund serves as Binance’s emergency reserve for user assets. The latest transfer represents a direct use of that reserve to address the shortfall created by the breach while the exchange continues market and over-the-counter acquisitions for the remaining less-liquid tokens.