Coinbase Lays Out Hot Wallet Controls as Customers Ask if a Binance-Style Hack Could Hit It

Customers asked whether Binance’s Oct. 29 breach could happen at Coinbase. The exchange pointed to signing keys that are never reassembled, caps on refilling hot wallets and switches that can pull keys offline. Coinbase said it was untouched by the theft from Binance’s hot wallets and that it holds more than 99% of customer assets in cold storage , in a blog post published Nov. 4 that walks through how it protects customer funds. Coinbase said customers had been asking whether a similar breach could happen on its platform.