Coinbase says 99% of customer assets are in cold storage following Binance’s $6.3B hack
Photo: Crypto Briefing
The exchange said its systems were unaffected by the Binance breach and detailed safeguards designed to prevent unauthorized withdrawals. Coinbase said Wednesday that more than 99% of customer assets are held in cold storage, outlining its security measures following the $6.3 billion hack at rival exchange Binance last week. In a security update , Coinbase said its systems and customer funds were unaffected by the breach. The exchange keeps a small portion of assets in internet connected hot wallets to process withdrawals, while continuously transferring excess balances into offline storage.
Also reported by Bitcoin.com News.
Source: Crypto Briefing
