Binance SAFU Fund transferred 7,500 bitcoins to an untagged wallet.

Binance SAFU Fund transferred 7,500 bitcoins to an untagged wallet at 5:56 AM on November 3. The wallet then split the transfer into approximately 150 transactions, each containing about 50 bitcoins, with some of these transactions being merged and transferred out. This batch of Bitcoin was transferred from Binance's Secure User Asset Fund (SAFU) on October 31 to offset losses from a stolen hot wallet. SAFU currently holds slightly more than 7,500 Bitcoins, worth approximately $572 million, below Binance's $800 million rebalancing threshold. Binance has pledged to replenish SAFU to approximately $1 billion, but has not yet announced a timeline for this replenishment. On-chain data does not show the recipient address, and Binance has not explained the transfer. (Source: Bitcoin.com News)