Coinbase: Unaffected by Binance Hot Wallet Incident, Over 99% of Customer Assets Held in Cold Wallets

Coinbase said it was not affected by the Binance hot wallet incident and that its systems and customer funds remain secure. Currently, over 99% of customer assets are held in cold wallets, with hot wallet balances dynamically rebalanced according to customer deposit and withdrawal demand. Asset transfers are protected by multiple layers of controls, including distributed keys, withdrawal limits, anomaly detection, and emergency switches that can pause signing. Customer assets are held 1:1 and remain customer property, and will not be lent out or used unless instructed by the customer.