Binance: SAFU Fund Covers Full Theft Losses - blockchain.news
Binance confirmed its SAFU fund and company capital will cover the entire theft, with no user losses incurred.
The cryptocurrency exchange bought 15,000 BTC for $1 billion between February 2 and 12 at roughly $66,666 per coin. That stack alone now shows a $179 million unrealized gain. Withdrawals remain paused as a precaution but are slated to reopen within 48 hours.
Breach details
Binance clarified the breach began with a compromised employee workstation and involved layered tactics rather than a single-key compromise. No evidence of private-key leakage has surfaced. Roughly $3 billion in affected assets sits frozen on-chain while investigators trace flows.
Market analysis
Price sits at $78,638 inside the Bollinger bands with the lower band at $78,174 providing immediate support and the upper band at $82,442 capping upside. The EMA50 at $80,699 and EMA200 at $81,599 both act as overhead resistance in the prevailing bearish structure, while the MACD death cross at -448.77 reinforces downside pressure even as RSI at 40.09 remains neutral.
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