Coinbase says hackers would have a hard time finding the money. 99%+ of customer assets are in cold storage.
Following the Binance hot-wallet incident, Coinbase confirmed its systems and customer assets remain unaffected.
Key security measures:
99%+ of customer assets stored in cold wallets.
Only a small amount kept in hot wallets for withdrawals.
Excess funds are continuously moved back to cold storage.
Private keys are split without being reassembled during signing.
Transfer limits, anomaly detection and emergency signing shutdown mechanisms.
Customer assets are backed 1:1 and never lent out or used without authorization.
Hackers: “Where's the money?”
Coinbase: “Somewhere you can't connect to the internet.”
Following the Binance hot-wallet incident, Coinbase confirmed its systems and customer assets remain unaffected.
Key security measures:
99%+ of customer assets stored in cold wallets.
Only a small amount kept in hot wallets for withdrawals.
Excess funds are continuously moved back to cold storage.
Private keys are split without being reassembled during signing.
Transfer limits, anomaly detection and emergency signing shutdown mechanisms.
Customer assets are backed 1:1 and never lent out or used without authorization.
Hackers: “Where's the money?”
Coinbase: “Somewhere you can't connect to the internet.”
