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Binance Confirms Transfer of 7,499 BTC From SAFU Fund After Hack
(2 hours ago) · 1 source · Summarized by CryptoBipto
Binance has confirmed a transfer of 7,499 BTC from its Secure Asset Fund for Users (SAFU) following a hack. The SAFU fund is a reserve Binance says it maintains to protect users in extreme situations. Details about the nature and scope of the hack remain limited based on available information.
WHY IT MATTERS
When you keep cryptocurrency on an exchange, the exchange holds your funds for you — similar to how a bank holds your money.
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SOURCES
- thedefiant.io
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