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REALITY CHECK | Crypto Exchanges Disclose Cold Storage Ratios After the Historic Binance Hack – BitKE

REALITY CHECK | Crypto Exchanges Disclose Cold Storage Ratios After the Historic Binance Hack – BitKE

Major cryptocurrency exchanges are disclosing how much of their customers’ assets they hold in offline cold storage following last week’s $6.36 billion attack on Binance’s internet-connected hot wallets.

 

MILESTONE | Binance Gets Hacked in the Largest Crypto Exploit in History

 

  • Coinbase has disclosed that more than 99% of customer assets are held in cold storage with excess assets continuously transferred offline.
  • Gate has also disclosed that 88.26% of its total assets are held in cold wallets while the remaining 11.74% are maintained in hot wallets. Its newly introduced Proof of Security framework indicates that its cold storage could cover 104.58% of customer assets even if its hot wallets…

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