Coinbase keeps 99% of customer assets offline
Key points
- Coinbase keeps more than 99% of customer assets in offline cold storage.
- The exchange confirmed it was unaffected by Binance's reported hot-wallet security incident.
- Coinbase uses distributed keys, withdrawal limits and emergency controls to protect customer funds.
Coinbase Global Inc (NASDAQ:COIN) keeps more than 99% of customer assets in cold storage, protecting funds from online threats.
The disclosure followed a reported Binance hot-wallet incident that prompted questions about cryptocurrency exchange security and customer protection.
Coinbase confirmed its systems and customer funds remained unaffected by the Binance incident.
The exchange uses distributed private keys, withdrawal limits and anomaly detection to control asset movements.
Its emergency shutdown mechanisms can halt fund transfers when security systems detect suspicious activity.
Coinbase also holds customer assets on a 1:1 basis, keeping them separate from company funds.
As of 30 September 2026, Coinbase held $8.6 billion in cash and reported $377 billion in platform assets.
The disclosure highlights Coinbase's custody safeguards as cryptocurrency exchanges face continued pressure to protect customer funds.
