Markets
Coinbase Says 99% of Customer Crypto Is Offline and Out of Hackers’ Reach
Coinbase said it wasn’t affected by the Binance hack and keeps more than 99% of customer assets in offline cold storage. The exchange detailed controls including split private keys, withdrawal rate limits, anomaly detection and kill switches that can take signing keys offline. Coinbase said customer assets are held 1:1, and it flagged AI as a fast-changing security threat. Coinbase is moving to reassure customers that what happened at Binance can’t easily happen there. In a blog post Wednesday, the U.S. exchange said it wasn’t affected by last week’s hack of Binance, in which attackers drained about $6.4 billion from...
Decrypt6 min read
