Coinbase: Unaffected by Binance Hot Wallet Incident; Over 99% of Customer Assets in Cold Storage

TechFlow news, November 4: According to the official Coinbase blog, Coinbase said its systems and customer funds were not affected by the Binance hot wallet incident. Currently, more than 99% of customer assets are stored in cold wallets, while hot wallet balances are dynamically adjusted based on customer deposit and withdrawal needs.

Coinbase said customer assets are held 1:1 and remain customer property, and will not be lent or used unless instructed by customers; its fund transfer protection measures include distributed keys, withdrawal limits, anomaly detection, and controls to halt signing.

Source: TechFlow