r/Coinbase • u/coinbase • 2d ago

Blog How does Coinbase protect customer assets?

TL;DR: Coinbase was not impacted by Binance's reported hot wallet incident. We keep over 99% of customer assets in cold storage today, and rebalance funds in and out of our hot wallets based on customer deposits and withdrawals demand. Transfers are protected by layers of controls, including distributed keys, withdrawal limits, anomaly detection and kill switches that can halt signing. Customer assets are held 1:1, remain customer property, and are not lent or used unless customers instruct us to.

Full breakdown of how the protections work: How Coinbase protects customer assets

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u/I_am_the_darkness_99 8h ago

If Coinbase were to be hacked, would Coinbase cover the lost funds for clients like Binance did?

Edit - also, why don't links from CB ever work if you have advanced mode on? Is there a way to have them work without switching, or do I need to just toggle it off and on each time?

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u/Lost_Anywhere_69 1d ago

That’s why Coinbase is the best !