Coinbase says it was unaffected by the reported $6.34 billion Binance hot wallet hack and keeps more than 99% of customer assets offline. It holds limited funds in internet-connected hot wallets for deposits and withdrawals and says its safeguards include distributed signing keys, withdrawal limits and controls that can halt transaction signing.
These protections apply to hosted Coinbase.com accounts; self-custody wallet users must secure their own private keys. Coinbase says its measures do not eliminate the risk of a breach or guarantee it could prevent a similar attack.
