As Binance Battles $6.3B Hack Fallout, Coinbase Reveals 99% of Customer Crypto Assets Are in Cold Storage

Questions about the safety of funds held on centralized exchanges have resurfaced following one of the crypto industry’s most alarming security incidents. As investors reassess the risks of keeping their holdings on trading platforms, Coinbase, America’s largest cryptocurrency exchange, is moving to reassure customers that its security measures make it harder for a similar breach to occur on its platform. The platform is highlighting a key part of its protection strategy, disclosing that more than 99% of customer assets are kept in cold storage, with only a small fraction exposed to online systems.