Binance: SAFU fund and company funds will bear all losses.

BlockBeats news, October 30th: In its latest announcement, Binance confirmed that for this hacking incident, it will bear all losses from the SAFU fund and company funds. Binance reiterated that user funds are safe. Once the repair work is completed, an updated proof of reserves will also be published.

As an immediate preventive measure, Binance has: temporarily suspended deposits and withdrawals until security checks are completed; revoked authorization for affected addresses; contacted law enforcement agencies and blockchain intelligence partners to track and recover funds.