Coinbase Outlines Cold Storage Defense After Binance Hack

TLDR Coinbase says it stores more than 99% of customer cryptocurrency in offline cold wallets. Coinbase reports that the $6.34 billion Binance hack did not affect its systems or customer funds. Binance reported freezing or intercepting approximately $2.85 billion and replenishing 98% of affected token assets. Coinbase reported $376.6 billion in assets on its platform as of September 30, 2026. South Korean regulators urged cryptocurrency exchanges to increase cold storage holdings beyond the existing 80% legal requirement. Coinbase says it keeps more than 99% of customer crypto in cold storage after Binance’s $6.34 billion hack on October 29.