Exchanges disclose cold storage ratios after Binance attack
BROBROK News · Based on reporting by Cointelegraph ·
Several crypto exchanges published cold storage figures after last week’s attack on Binance’s hot wallet infrastructure. Gate introduced a Proof of Security framework, while Coinbase, Upbit and OKX highlighted high shares of assets kept offline.
Key points
- Gate said 88.26% of its total assets are in cold storage.
- It claims cold storage could cover 104.58% of customer assets even if hot wallets were drained.
- Coinbase said more than 99% of customer assets are held offline.
- Upbit reported 99.17% in cold wallets, and OKX said it keeps more than 95% of client assets in cold storage.
- The figures are not directly comparable because exchanges use different reporting periods and asset bases.
Why it matters
The disclosures show exchanges trying to reassure users after a high-profile security incident at Binance. Cold storage ratios can help gauge custody practices, but they do not capture every security risk facing an exchange.
Original headline: “Crypto exchanges tout cold storage ratios after Binance attack”
Read the original on Cointelegraph
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.