Coinbase says it keeps over 99% of customer funds in cold storage, in a blog post published after the Binance hack describing its safety measures.

Coinbase says it keeps over 99% of customer funds in cold storage, in a blog post published after the Binance hack describing its safety measures.

That is how today's Telegram relays put it: Rickler Feed and ahboyashreads headline it as "Coinbase Says They Keep Over 99% Of Customer Funds In Cold Storage, Describes Safety Measures In Post Following Binance Hack: Blog", with follow-ups phrasing it as over 99% and 99% in cold wallets.

The original Coinbase blog text itself was not retrievable in the sources read, so the specific safety measures beyond the 99% cold storage claim cannot be quoted here.

Context is the Oct. 29 Binance hot wallet attack put at roughly $5.8-6.3B, after which Coinbase CEO Brian Armstrong said Coinbase blocked transfers to compromised wallets and offered help to Binance.