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

Binance's latest announcement confirms that in this hacking incident, Binance will cover all losses from the SAFU fund and company funds. Binance reiterates that user funds are safe and states that once the repair work is completed, an updated proof of reserves will be released.

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