🛡️ What is SAFU?
SAFU stands for Secure Asset Fund for Users. It's an emergency fund Binance set up in 2018 to protect users if something goes wrong, like a hack.
That's why, after the recent security incident, Binance could say it would cover the losses from its own funds instead of passing them to users.
Quick lesson: before you trust an exchange with your money, ask what happens if it gets hacked.
$BNB
SAFU stands for Secure Asset Fund for Users. It's an emergency fund Binance set up in 2018 to protect users if something goes wrong, like a hack.
That's why, after the recent security incident, Binance could say it would cover the losses from its own funds instead of passing them to users.
Quick lesson: before you trust an exchange with your money, ask what happens if it gets hacked.
$BNB