7,500 BTC Withdrawn From Binance SAFU Moves to Unlabeled High‑Volume Address
Binance’s SAFU fund transferred its remaining 7,500 BTC to an unlabeled address on Nov 3, sparking scrutiny of the exchange’s post‑hack asset handling.
COINMAG NewsroomNewsroom · via COINMAG
Key takeaways
- Binance moved the remaining 7,500 BTC from its SAFU fund to an address with a long history of high transaction volume.
- The transfer was split into 150 outputs, with 4,800 BTC later used in a 9,346 BTC transaction to another address.
- Binance has pledged to replenish SAFU to roughly $1 billion but has not disclosed the source of the recent withdrawals.
On November 3, 2026, Binance’s Secure Asset Fund for Users (SAFU) dispatched its remaining 7,500 BTC to an address that is not publicly labeled but has processed more than 2,400 transactions over its lifespan. The movement follows an earlier partial drawdown on October 31, when the exchange shifted half of the fund’s holdings amid a $6.3 billion hot‑wallet hack. According to blockchain analytics reported by Unchained, the 7,500 BTC left the SAFU address (1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD) at 05:56 UTC and arrived at the unlabeled address in a single transaction.
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Breakdown of the Transfer
The unlabeled address immediately fragmented the incoming coins into 150 outputs of roughly 50 BTC each. Of these, 96 outputs—totaling 4,800 BTC—were later combined as inputs for a 9,346 BTC transfer made at 14:53 UTC on the same day. The remaining 54 outputs were dispersed across separate transactions ranging from 15 to 41 outputs each. Unchained notes that the address has a reputation for handling large volumes, suggesting it may be a mixing or redistribution service, though its ownership remains unknown.
Context of the SAFU Fund and Binance’s Response
The SAFU fund originally accumulated 15,000 BTC across five deposits between February 2 and February 12, 2026. After the October 31 partial deployment, the fund retained just over 7,500 BTC, valued at approximately $583 million based on a $77,798 BTC price from mempool.space. Binance’s SAFU FAQ states the fund will be rebalanced to $1 billion if its value falls below $800 million (about 10,283 BTC). In its October 31 update, the exchange pledged to replenish the fund to roughly $1 billion but gave no timeline. Binance’s incident report on the hack, which traced the breach to a compromised developer install, did not mention SAFU activity.
What to Watch Next
Analysts will monitor whether the unlabeled address continues to move the BTC, potentially indicating further laundering or redistribution. Binance’s upcoming financial disclosures may reveal how the exchange plans to restore SAFU’s target size and whether additional assets will be drawn from its Futures insurance fund or corporate treasury. Finally, regulatory bodies could scrutinize the transparency of SAFU withdrawals, especially given the exchange’s recent publication of a zero‑knowledge proof of reserves for multiple tokens.
COINMAG NewsroomStories researched and written by the COINMAG news desk from multiple independent reports.
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