Crypto exchanges tout cold storage ratios after Binance attack

Following a major hot-wallet attack on Binance that resulted in the theft of approximately $6.36 billion, several cryptocurrency exchanges have publicly disclosed their cold storage ratios to reassure users. Coinbase reported holding over 99% of customer assets offline, while other exchanges such as Gate, Upbit, and various South Korean platforms shared their own cold-wallet distributions. However, industry experts note that high cold storage ratios do not eliminate all security risks, as offline wallets can still be compromised through faulty access controls or compromised signing systems. Open article →