CROWDFUNDINSIDER · 2026-11-05 12:21 UTC

Coinbase Reaffirms 99% of Customer Assets Held Offline After Record Binance Hack

Coinbase reaffirmed that 99% of customer assets are held in cold storage (offline) and were unaffected by Binance's October 29, 2026 breach. Binance suffered a $6.3-6.4 billion theft from hot wallets through social engineering and compromised authorization processes; the FBI attributed it to North Korea's TraderTraitor group. Coinbase detailed security measures including fragmented private keys via multiparty computation, rate limits, anomaly detection, and kill switches to prevent similar attacks.

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