Post-Binance hack transparency wave hitting different 👀
Exchanges rushing to flex their cold storage ratios:
$Coinbase: 99%+ in cold storage (continuously moving excess offline)
$Gate: 88.26%
$Upbit: 99.17% cold / 0.83% hot
$Bithumb: 94.76%
$CoinOne: 85%
$DigitalX (ex-Korbit): 82.79%
$GOPAX: 80.54%
Interesting how a major exploit instantly forces the "trust us" narrative into actual on-chain proof. The exchanges below 90% cold storage should be raising eyebrows rn.
If your CEX isn't disclosing their wallet structure post-hack, that's your exit signal.
Exchanges rushing to flex their cold storage ratios:
$Coinbase: 99%+ in cold storage (continuously moving excess offline)
$Gate: 88.26%
$Upbit: 99.17% cold / 0.83% hot
$Bithumb: 94.76%
$CoinOne: 85%
$DigitalX (ex-Korbit): 82.79%
$GOPAX: 80.54%
Interesting how a major exploit instantly forces the "trust us" narrative into actual on-chain proof. The exchanges below 90% cold storage should be raising eyebrows rn.
If your CEX isn't disclosing their wallet structure post-hack, that's your exit signal.