Coinbase added that no single employee has standing access to its production wallet signing service, while sensitive changes require approval from multiple personnel. The company also uses additional authentication measures to reduce risks from compromised employee devices or credentials.
The exchange reiterated that customer assets are held at a 1:1 ratio and remain customer property, with funds neither lent nor used without customer instructions.
As of September 30, Coinbase reported $377 billion in assets on its platform, alongside $8.6 billion in cash and cash equivalents and $2.2 billion in crypto assets held for investment.
The statement follows the October 29 Binance attack, which resulted in approximately $6.34 billion in stolen crypto assets. Binance said Wednesday it had replenished 98% of the affected assets using its own resources and expanded its proof of reserves coverage to 44 cryptocurrencies.
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