Coinbase Lays Out Hot Wallet Controls as Customers Ask if a Binance-Style Hack Could Hit It

Coinbase said it was untouched by the theft from Binance’s hot wallets and that it holds more than 99% of customer assets in cold storage , in a blog post published Nov. 4 that walks through how it protects customer funds. Coinbase said customers had been asking whether a similar breach could happen on its platform. “Coinbase was not impacted and our systems and customer funds remain unaffected,” the company wrote. Binance has put its losses from the Oct. 29 attack at about $6.3 billion , and blockchain analytics firm TRM Labs attributed the theft to North Korea’s TraderTraitor group.

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