Coinbase said on Nov. 4, 2026, that it holds more than 99% of customer assets in offline cold storage, outlining its custody defenses after a reported $6.34 billion theft at Binance. Coinbase said its systems and customer funds were unaffected. The cold-storage percentage is self-reported; its precise allocation has not been independently established.
Coinbase said it keeps some assets in internet-connected wallets for withdrawals and transfers, while its institutional custody vault operates entirely offline. It described split cryptographic keys, withdrawal limits and emergency controls intended to stop unauthorized transfers. Its SOC examinations cover specified controls but do not establish that every customer asset is protected against theft.
