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Binance SAFU fund transfers out 7,499 BTC to cover stolen as

2026-11-01 01:38 · 4 sources

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After Binance suffered the largest crypto hack in history, related response measures and market reactions have surfaced in quick succession. Binance has transferred 7,499 BTC out of the SAFU fund to cover the stolen asset shortfall, says it has covered 90% of the losses, and proof-of-reserves results will be published on November 2. On the funding side, investors withdrew $643 million from Bitcoin ETFs; Nasdaq-listed company NXTT was authorized to sell or pledge 5,833 BTC (about $449 million) in batches, citing the Binance hack and quantum risk; within 24 hours, more than 36,600 BTC held at a loss were transferred into exchanges. On the security front, multiple trading platforms stepped up protections and Coinbase adjusted its cold storage system; Chainalysis said the hackers used Tron DeFi to evade stablecoin freezes, while the firm itself was also hit by an AI agent attack. Bitwise believes the incident will not affect Bitcoin's price and expects the market to recover within a week; SlowMist noted that the theft indirectly pushed up stETH yields, with Lido's 7-day average APR rising to 4.2%.

November 1, 2026 Market News Roundup

Wu Shuo has learned that Arkham on-chain data shows that at 22:51:41 Beijing time on October 31, Binance's SAFU fund address (1BAuq) transferred 7,499 BTC, worth about $581 million, to the address 165Eur...SMmee. Binance officially confirmed afterward that the SAFU fund transfer had been completed. According to Binance's earlier announcement, the platform will use part of the SAFU fund to cover asset losses caused by the recent security incident, and it has now covered about 90% of the stolen assets.

Authors: Maggie Hsu, Michele Korver, a16z crypto. Translation: Chopper, Foresight News. Original link: https://www.techflowpost.com/article/34523. Disclaimer: This article is reposted content; readers can obtain more information through the original link. If the authors have any objection to the reposting format, please contact us and we will modify it as requested. The repost is for information sharing only and does not constitute any investment advice, nor does it represent Wu Shuo's views.

Binance published a security incident update, announcing that it has now covered 90% of the stolen asset losses. Ten major tokens including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now 100% fully backed by reserves, and the remaining 10% of less liquid assets are being continuously repurchased and replenished through the open market and OTC channels. Sources of the funds used for this replenishment include: deploying part of the investor protection fund (SAFU), allocating part of the futures insurance fund balance that exceeds regulatory and risk-control requirements, and drawing on Binance's own

PANews, October 31: SlowMist founder Cos posted that Lido's 7-day average APR rose from 2.2% to 4.2% over the past two days. He noted that yesterday's Binance theft triggered fierce on-chain competition, which increased Ethereum execution-layer rewards, and stETH holders also benefited from it.

1. Trump responds to Binance's $6.3 billion hack, says he is looking into the situation; CFTC calls for stronger regulation. After Binance suffered a hack of about $6.3 billion, US President Trump said on October 30 that he was looking into the incident, and mentioned that Binance has promised to ensure user funds are compensated. CFTC Chairman Michael Selig pointed out that Binance is an offshore exchange not subject to US federal regulation and lacks the protections that exist in US financial markets, and that this incident highlights the necessity of regulating the crypto market. Blockchain analytics firm TRM Labs

Nasdaq-listed software company Next Technology Holding (NXTT) said its board has authorized the sale or pledging of its approximately 5,833 BTC, worth about $449 million, in batches, citing reasons including the Binance hack, exchange vulnerabilities and the potential threat of quantum computing to Bitcoin cryptography. The company said none of its Bitcoin is held at Binance. CEO Weihong Liu will decide the timing, price and size of the transactions; the authorization permits exchange sales, privately negotiated transactions and Bitcoin-backed financing, but does not guarantee that transactions will be completed. The company

Odaily: AI is accelerating the cyberattack process, and researchers point out that attackers have already used autonomous tools to automate phishing, vulnerability research and credential theft. Binance said its October 30 incident is estimated to have had a $6.3 billion impact; the Bitget September incident involved about $387.5 million transferred to addresses controlled by attackers, and neither company has publicly attributed the incidents to AI. Google's threat intelligence unit said attackers are moving from simple AI prompts to agentic attack processes. A 202

Odaily: Nasdaq-listed software company Next Technology Holding (NXTT) said its board has authorized the sale or pledging of its approximately 5,833 BTC, worth about $449 million, in batches. The company said the considerations include the Binance hack, exchange vulnerabilities, and the potential threat of quantum computing to Bitcoin cryptography; none of the company's Bitcoin is held at Binance. CEO Weihong Liu will decide the timing, price and size of the transactions. The authorization covers exchange sales, privately negotiated transactions

PANews, October 31: According to CoinDesk, Nasdaq-listed software company Next Technology Holding (NXTT) said its board has authorized the sale or pledging of its approximately 5,833 BTC, worth about $449 million, in batches, citing reasons including the Binance hack, exchange vulnerabilities and the potential threat of quantum computing to Bitcoin cryptography. The company said none of its Bitcoin is held at Binance. CEO Weihong Liu will decide the timing, price and size of the transactions; the authorization permits exchange sales, privately negotiated trans

Chainalysis makes its money chasing crypto thieves. This month, someone broke into Chainalysis, and they used AI agents to do it. The firm told customers an outside attacker used “offensive a

PANews, October 31: Bitwise Chief Investment Officer Matt Hougan said in a live CNBC interview that the Binance hack will absolutely not affect Bitcoin's price. He said it will not change Bitcoin's long-term direction, the blockchain itself was not hacked, and he expects to see the market recover within a week.

Blockchain analytics firm Chainalysis disclosed that the hackers behind the $6.4 billion Binance attack (identified as the North Korean TraderTraitor group) are using the Tron DeFi protocol to evade centralized stablecoin freezes. The attackers first swapped TRX for stablecoins; because Tether and Circle have helped freeze $2.8 billion in involved funds, to avoid having stablecoins they hold directly frozen, the hackers deposit stablecoins into DeFi lending protocols to obtain "depositary receipt tokens" that cannot be frozen by centralized entities, and then

1. CZ clarifies SPCX holdings controversy: never said he would sell, believes it is worth holding long term; 2. Binance hacker address moves 120 million TRX, worth over $38 million; 3. Negative for 38 consecutive days, Coinbase Bitcoin premium index at -0.2434%; 4. Machi Big Brother continues to reduce HYPE long positions, overall position turns slightly profitable; 5. Rates Exchange receives investment from Coinbase Ventures, amount undisclosed; 6. Flap: official website fla

Investors pulled $643.33 million from US spot Bitcoin ETFs on October 30, according to SoSoValue data. The exit came one day after hackers drained about $6.3 billion from Binance, the world’s la

PANews, October 31: According to the UK's Financial Times, after Binance suffered a $6.3 billion theft, multiple crypto trading platforms are stepping up security measures. Coinbase Chief Security Officer Jeff Lunglhofer said the company has made partial adjustments to its cold storage system "purely out of prudence." Gemini has added alerts and restrictions for fund transfers; Kraken said it is closely monitoring the situation and its platform services are operating normally. Coinbase Vice President of Product Will Megson also said the company is

According to the Financial Times, after Binance suffered a $6.3 billion theft, multiple crypto trading platforms are stepping up security measures and explaining the safety of customer funds to clients. Coinbase Chief Security Officer Jeff Lunglhofer said the company has made partial adjustments to its cold storage system "purely out of prudence." Gemini has added alerts and restrictions for fund transfers; Kraken said it is closely monitoring the situation and its platform services are operating normally. OKX CEO Star Xu called on the industry to establish pract

PANews, October 31: According to The Defiant, Ethereum developer nicolashw submitted a draft core EIP proposal on October 30 titled "Permanent Exit from EOA Delegation," which would allow key-controlled wallets to permanently disable EIP-7702 delegation, enabling account owners to refuse smart contract execution on their existing addresses. The proposal has not yet been assigned a number and remains open and unmerged; activation requires a network upgrade. The draft would use a currently invalid EIP-7702 type 4 transaction to install a non-executable three-byte marker in the account

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