Coinbase Says 99% of Customer Crypto Is Offline and Out of Hackers’ Reach

Customers of Coinbase were told that the $6.4 billion Binance hack did not reach the company, and the firm laid out its asset-protection system. More than 99% of assets are stored offline, according to the company. It also said it divides private keys, which control access to crypto holdings, and relies on kill switches within its security controls. Coinbase provided those details while addressing the Binance incident with its customers.