Binance pledges to cover all crypto losses; But is SAFU fund short?

Late on Thursday, October 29, the popular cryptocurrency exchange Binance became the target of what is likely the largest digital asset robbery in history , with $6.3 billion reported stolen. For comparison, on October 9, Finbold Research found that a total of $1.17 billion worth of cryptocurrency was taken through various attacks during the third quarter (Q3), while the total for 2026 by September 30 stood at roughly $2.26 billion, making the Binance hack 180% larger than the nine-month total. Meanwhile, the exchange pledged to cover all losses, and the company founder, Changpeng Zhao – widely known as CZ – was quick to declare that ‘user funds are SAFU!’ Binance famously established an emergency ‘SAFU’ – a deliberate and playful misspelling of the word ‘safe’ frequently used in the digital…

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Finbold.