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Coinbase Claims 99% of Customer Assets in Cold Storage After Binance Breach
(3 hours ago) · 1 source · Summarized by CryptoBipto
Coinbase has stated that 99% of its customer assets are held in cold storage, emphasizing its security practices following a reported $6.3 billion breach at Binance. The announcement appears aimed at reassuring customers about the safety of funds held on the Coinbase platform.
WHY IT MATTERS
When you store cryptocurrency on an exchange, you are trusting that company to keep your funds safe, similar to how a bank holds your money.
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SOURCES
- theblock.co
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Exchange SecurityCold StorageBinance HackCoinbaseCustodial Risk
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