Coinbase said it was unaffected by a reported hot-wallet incident at Binance, with systems and customer funds normal. It said more than 99% of customer assets sit in cold storage, with only a small hot-wallet balance for withdrawals, and that customer assets are held 1:1 and never lent out without instruction.
The story so far: South Korea FSC response to Binance hack
After a $6.3bn theft at Binance on 29 October, which the FBI attributed to North Korean hackers, CZ backed a crypto security alliance to share audits and coordinate asset freezes. The US State Department now urges joint government action and full UN sanctions enforcement on Pyongyang. Blockaid researchers said…
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Coinbase says over 99% of customer assets held in cold wallets
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