Coinbase holds 959,000 $BTC worth $103.3B, and hasn’t been hacked in 14 years. You’d think that’s impossible, right?
Most exchanges stack billions in a handful of hot wallets for fast withdrawals, but Coinbase uses MPC tech to split private keys into shards stored on isolated hardware chips. Hackers can’t get the full key even if they compromise an engineer’s laptop. That’s the opposite of last month’s Binance hack where attackers drained $6.36B in 20 minutes after hitting a DevOps employee’s machine.
Before you call Coinbase unhackable, remember the analyst later walked back his claim: those 69.8M addresses he cited were deposit addresses, not cold storage wallets.
#Write2Earn #BinanceSquare #BTC #ExchangeSecurity #HalloweenPumpkinFrenzy
Most exchanges stack billions in a handful of hot wallets for fast withdrawals, but Coinbase uses MPC tech to split private keys into shards stored on isolated hardware chips. Hackers can’t get the full key even if they compromise an engineer’s laptop. That’s the opposite of last month’s Binance hack where attackers drained $6.36B in 20 minutes after hitting a DevOps employee’s machine.
Before you call Coinbase unhackable, remember the analyst later walked back his claim: those 69.8M addresses he cited were deposit addresses, not cold storage wallets.
#Write2Earn #BinanceSquare #BTC #ExchangeSecurity #HalloweenPumpkinFrenzy
