THE BLOCK · 2026-11-04 16:58 UTC

Coinbase says 99% of customer assets sit in cold storage after Binance's $6.3 billion breach

Coinbase stated it was unaffected by Binance's $6.3 billion breach and keeps 99% of customer assets in cold storage using distributed private keys and anomaly detection. Binance replenished approximately 98% of assets affected by the October 29 hack, where attackers used a fake job interview and internal AI tool to breach the exchange. Binance cofounder CZ Zhao called for AI-based defenses and industry cooperation to combat threats, while Binance expanded Proof of Reserves coverage to 44 tokens.

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