Coinbase says 99% of customer assets are in cold storage as exchange security comes under scrutiny after Binance suffers $6.3 billion attack

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Coinbase says more than 99% of its customer assets are stored in cold storage, while its dedicated Custody vault is 100% cold storage and segregated on-chain. The article points out that after Binance suffered a $6.3 billion attack on October 29, cold storage alone cannot prevent stolen credentials or controlled systems from approving fraudulent transfers; security measures must also cover independent approvals, permission segregation, and continuous oversight. A survey shows that 66% of 351 institutional investors listed security and key signing as priorities when choosing a custodian, up from 8% in 2025.