Coinbase shares custody safeguards following a massive billion dollar crypto hack
Image: BeInCryptoCoinbase states that more than 99% of customer crypto sits in offline cold storage. The statement follows a large theft at rival Binance. Binance reported that attackers compromised employee computers using a fake job interview. Coinbase holds $377 billion in platform assets. South Korea is considering raising its cold wallet storage requirement for crypto exchanges to 99%.
Key points
- Coinbase keeps more than 99% of customer crypto in offline cold storage.
- Binance suffered a multi billion dollar hack following a fake job interview.
Why it matters
Exchanges face increased scrutiny regarding asset security and cold storage practices following major security breaches.
Sources · 6 publishers
Crypto.news
Tier 2
Coinbase says customers unaffected by $6.34B Binance hack
Crypto Briefing
Tier 2
Coinbase says 99% of customer assets are in cold storage following Binance’s $6.3B hack
Blockonomi
Tier 3
Coinbase Outlines Cold Storage Defense After Binance Hack
Bitcoin.com News
Tier 2
Coinbase Says 99% of Customer Assets in Cold Storage After $6.3B Binance Hack
CoinGape
Tier 2
Coinbase Says Customer Funds Are Held in Cold Storage After Binance Hack
Coverage timeline
- First reported by BeInCrypto
- Also reported by Crypto.news
- CryptoVideos brief published
- 1 more publisher added to sources
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