Coinbase said it was unaffected by Binance’s $6.3 billion security breach and holds more than 99% of customer assets in cold storage, according to a Wednesday blog post cited by The Block.
The report was published on Nov. 5, 2026, at 00:57:39 UTC+8. It described the exchanges’ statements following the Oct. 29 exploit of Binance.
Coinbase details its protections
Coinbase said it uses distributed private keys, withdrawal limits and anomaly detection to guard against unauthorized transfers. The exchange also said customer assets are held 1:1, remain customers’ property and are not lent or otherwise used without customer authorization.
The company described advances in artificial intelligence as a rapidly changing security challenge and said it would continue investing in security safeguards and threat monitoring.
Binance reports replenishment progress
Binance said Wednesday that it had replenished approximately 98% of the assets affected by the breach. It said it was acquiring the remaining 2% through market and over-the-counter channels, with lower liquidity making those purchases take longer.
The exchange also said it expanded its Proof of Reserves coverage from 10 tokens to 44. A new zero-knowledge proof was expected to take 50 to 60 hours to generate.
On Tuesday, Binance said the attackers had used a fake job interview and an internal AI tool to assist the breach. Binance cofounder and former CEO Changpeng “CZ” Zhao separately called for AI-based defenses and an industry alliance to share lessons and freeze stolen funds more quickly.
The custody protections and replenishment figures above reflect the exchanges’ statements as reported at the time; the remaining purchases and proof generation were still pending in that account.