Coinbase Says Customer Funds Are Held in Cold Storage After Binance Hack

HIGHLIGHTS Coinbase says more than 99% of customer assets are held in cold storage, supported by distributed signing keys, withdrawal limits and transaction monitoring. The exchange says its MPC architecture provide additional safeguards against the type of failures involved in Binance hack. Despite these safeguards, Coinbase has previously faced a 2025 customer data breach that could cost up to $400 million. Coinbase says it remains unaffected by the $6.34 billion Binance hot wallet hack, emphasizing that more than 99% of its customer assets are held in cold storage rather than connected to the internet.