Coinbase says it keeps more than 99% of customer assets in cold storage.
Cryptopolitan reported that the disclosure came after Binance was hacked on October 29, losing $6.3 billion. Coinbase explained its relevant system practices in a blog post. The report also raises a boundary question: keeping assets offline does not by itself answer “how to stop attackers from getting fraudulent transfers approved.”
· “99%” is the share Coinbase claims; the source material provides no third-party verification
· The source material presents only a chronological sequence between Binance’s $6.3 billion loss and Coinbase’s security arrangements, and does not establish causation
Which matters more to you: the proportion held in cold storage, or the approval process for large transfers?
Cryptopolitan reported that the disclosure came after Binance was hacked on October 29, losing $6.3 billion. Coinbase explained its relevant system practices in a blog post. The report also raises a boundary question: keeping assets offline does not by itself answer “how to stop attackers from getting fraudulent transfers approved.”
· “99%” is the share Coinbase claims; the source material provides no third-party verification
· The source material presents only a chronological sequence between Binance’s $6.3 billion loss and Coinbase’s security arrangements, and does not establish causation
Which matters more to you: the proportion held in cold storage, or the approval process for large transfers?
