Key facts
- Binance will reimburse customers for losses from a $6.3 billion hack.
- The exchange will use its own funds and the Secure Asset Fund for Users (SAFU) to cover damages.
- The SAFU fund held about $1 billion in Bitcoin as of 2026.
- There are generally no federal guarantees or rules in the U.S. to protect crypto customers if a company is hacked.
- FDIC and SIPC protections do not typically cover digital or crypto assets unless deemed a security.
Hackers stole $6.3 billion in digital coins from Binance in a breach revealed yesterday, prompting the company to announce it will reimburse affected customers. Binance stated it would use its own funds and its Secure Asset Fund for Users (SAFU), which held about $1 billion in Bitcoin as of 2026, to cover the losses. The company has suspended withdrawals. In the U.S., there are generally no federal guarantees or rules to protect cryptocurrency customers if a company is hacked or goes out of business, unlike the protections offered by the FDIC for bank deposits and SIPC for brokerage accounts. Digital asset insurance is a niche market, with policies tailored to crypto risks, but exclusions can limit payouts.