Binance Announces BinanceABCs Contest Winners with $400 USDC Rewards

Binance has purchased an additional 3,600 BTC for its SAFU (Secure Asset Fund for Users) emergency fund, converting $250M in stablecoins. The fund now holds **6,230 BTC** total. **Key Details:** - This follows an initial $100M conversion completed on February 2 - Total converted so far: **$350M** of the ~$1B fund - Public wallet address: [1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkDTXID](https://www.blockchain.com/en/explorer/transactions/btc/05e055fd1df64cd8f8c66a40ef3e33d3c306cbebb4de3066132eab9ce61a4da8) - Conversion timeline: 30 days from January 30 announcement **Background:** Binance announced on January 30 it would convert the SAFU fund's stablecoin reserves into Bitcoin, citing BTC as "the foundational asset of this ecosystem and the premier long-term store of value." The fund will be rebalanced if it falls below $800M, with Binance committing to replenish it to $1B. The SAFU fund was established to protect users during security incidents. Binance continues to provide progress updates as the conversion proceeds.

Binance has published its monthly Proof of Reserves (PoR) for February 2026, maintaining its transparency initiative that allows users to verify asset backing. **Key Points:** - The PoR mechanism enables anyone to independently verify that user assets are backed 1:1 - This continues Binance's regular monthly disclosure practice - Users can access the full report at [binance.com/en/proof-of-reserves](https://www.binance.com/en/proof-of-reserves) The disclosure represents Binance's ongoing commitment to transparency in custody practices.

**ED25519 signatures** offer a modern approach to cryptographic security with notable performance advantages. Key characteristics: - Fast signature generation and verification - Strong security guarantees - Compact signature size (64 bytes) - Deterministic signing process The guide covers practical implementation for **Binance API security**, explaining how ED25519 compares to traditional signature schemes. This signature algorithm is increasingly adopted in blockchain applications due to its efficiency and resistance to timing attacks. Developers can use ED25519 to: - Secure API communications - Authenticate transactions - Reduce computational overhead The article provides technical details on implementation without requiring deep cryptographic knowledge. [Read the full guide](https://www.binance.com/en/academy/articles/ed25519-signature-what-is-it-and-how-to-use-it-for-binance-api-security)

Scammers are exploiting a technique called **address poisoning** to trick users into sending funds to fraudulent wallets. **How it works:** - Attackers create wallet addresses that closely resemble legitimate ones - They send small transactions to your wallet to populate your transaction history - When you copy an address from your history, you might accidentally select the fake one - The lookalike address appears legitimate at first glance **Prevention methods:** - Always verify the complete wallet address before sending funds - Double-check both the first and last characters of addresses - Use address book features in your wallet - Be suspicious of unexpected small transactions Binance Academy provides detailed detection tips and examples to help users identify these attacks. Understanding multisig scams and address poisoning tactics is essential for protecting your digital assets. [Read the full guide]( https://www.binance.com/en/academy/articles/how-do-crypto-address-poisoning-attacks-work)