Coinbase Says Its Customers’ Funds Stayed Safe While Binance Lost $6.34 Billion, With Over 99% Kept Offline
Coinbase says it was not hit by the $6.34 billion Binance hack and that over 99% of customer assets sit in offline cold storage, with split keys, transfer limits and kill switches guarding the rest. Binance's attackers got in by targeting two engineers with a fake job interview and a tampered download, which shows that protecting keys alone does not stop unauthorised transfers.
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