Crypto Exchanges Boost Security After Binance Breach

Crypto exchanges have stepped up the disclosure of their custody policies following the attack on Binance's hot wallet infrastructure. The incident resulted in the theft of approximately 6.36 billion dollars within a short timeframe.

The exchange Gate launched a new security framework to detail the breakdown of its assets. The company states it keeps 88.26% of funds in cold storage and guarantees full coverage for losses in extreme scenarios.

Coinbase reported that it keeps more than 99% of customer assets disconnected from the internet. The company performs constant rebalancing of excess funds to ensure that the majority of capital remains in an offline environment.

In South Korea, Upbit confirmed that it holds 99.17% of its assets in cold wallets. This figure exceeds the 80% regulatory limit required by local authorities for the country's major platforms.

Transparency regarding offline storage directly affects the perception of systemic risk in the digital asset market and influences investor confidence in exchange custody.