DECRYPT · 2026-11-04 20:46 UTC

Coinbase Says 99% of Customer Crypto Is Offline and Out of Hackers’ Reach

Coinbase stated that 99% of customer crypto assets are stored in offline cold wallets, inaccessible to hackers, in response to Binance's $6.4 billion hack last week. The exchange described multiple security layers including split private keys, multi-approval requirements, withdrawal limits, and kill switches to prevent unauthorized fund transfers. Coinbase reported $8.6 billion in cash equivalents and $377 billion in assets on its platform as of September 30, with customer assets held 1:1 and not lent out without permission.

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