Original report published Nov. 5, 2026, at 00:57:39 UTC+8.
Coinbase said it was unaffected by Binance’s $6.3 billion security breach and outlined its customer-asset safeguards in a blog post published Wednesday. Separately, Binance said it had replenished approximately 98% of the assets affected by the breach.
Coinbase’s custody claims
Coinbase said it holds more than 99% of customer assets in cold storage and uses distributed private keys, withdrawal limits and anomaly detection to guard against unauthorized transfers.
The U.S. exchange also said customer assets are held 1:1, remain customers’ property and are not lent or otherwise used without customer authorization. These are Coinbase’s statements about its custody arrangements and obligations; the supplied report does not independently verify them.
Coinbase said advances in artificial intelligence were rapidly changing the security landscape and that it would continue investing in security safeguards and threat monitoring.
Binance’s replenishment and reserve disclosures
Binance was exploited for $6.3 billion on Oct. 29, according to the report. On Tuesday, the exchange said attackers had used a fake job interview and an internal AI tool to assist the breach.
In its Wednesday update, Binance said it had replenished approximately 98% of affected assets and was acquiring the remaining 2% through market and over-the-counter channels. It attributed the longer purchasing process to lower liquidity.
Binance 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.
The replenishment figure and expanded reserve coverage are exchange-reported updates, not an independent finding of solvency. The supplied report does not establish whether those disclosures account for all customer liabilities or verify customers’ legal protections.
Binance cofounder and former CEO Changpeng “CZ” Zhao said Tuesday that crypto companies needed AI-based defenses and an industry alliance to share lessons and freeze stolen funds faster.