THE STREET · 2026-11-05 17:30 UTC

Hackers beware: Coinbase says 99% of customer crypto is kept offline

Coinbase stated that over 99% of customer crypto assets are held in offline cold storage, unaffected by last week's $6.34 billion Binance hack attributed to North Korea's TraderTraitor group. The exchange uses multiple security controls including split private keys, multi-approval requirements, rate limits on fund transfers, and kill switches to prevent unauthorized access. Coinbase reported $377 billion in assets on its platform and disclosed a May 2025 incident where overseas support agents were bribed to steal data on less than 1% of monthly users; attackers demanded $20 million ransom…

Loading the story on Tree News…