Coinbase says 99% of customer assets are in cold storage following Binance’s $6.3B hack

Coinbase said 99% of customer assets are held in cold storage, a disclosure that follows Binance’s $6.3 billion hack and puts custody security back at the center of crypto-market risk. The exchange’s cold-storage-heavy model contrasts with hot-wallet exposure that can be drained in a breach, and the timing is notable because the Binance incident is among the largest single losses in the industry’s history. The disclosure matters for institutional and retail clients weighing where to hold tokens, since custody design can determine how much of a balance sheet is exposed to online attacks. What to watch next is whether rival exchanges publish comparable cold-storage ratios and whether the Binance hack prompts a broader shift toward audited, segregated custody arrangements.