#StaySAFU ⚠️Did you know?🚨 In May 2019, Binance experienced a security breach where hackers stole over 7,000 BTC, worth around $40 million at the time. The attack targeted the exchange’s hot wallets using advanced techniques like phishing and malware, managing to bypass Binance’s security systems.
📛KEY TAKEAWAYS
➤ SAFU stands for Secure Asset Fund for Users, a Binance initiative launched in 2018 to protect user funds during extreme situations like hacks. The exchange allocates 10% of trading fees to a secure emergency fund.
➤ Born from a meme, SAFU evolved from a lighthearted joke into a trusted security measure, showcasing the crypto industry’s ability to blend humor with real-world problem-solving.