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Coinbase Describes Its Security Practices Following Recent Binance Hack
(2 hours ago) · 1 source · Summarized by CryptoBipto
Following a reported hack affecting Binance, Coinbase has publicly outlined the security measures it says it uses to protect approximately $377 billion in customer crypto assets. The company detailed its custody and protection practices in response to renewed industry focus on exchange security.
WHY IT MATTERS
When you store cryptocurrency on an exchange, you are trusting that company to keep your assets safe, similar to how a bank holds your money in a vault.
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SOURCES
- beincrypto.com
RELATED
Exchange SecurityCrypto CustodyBinance HackCoinbase
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