Source published Nov. 5, 2026, at 00:57:39 UTC+8. This is a historical reporting snapshot, not a live assessment.
Coinbase said it was unaffected by Binance’s reported $6.3 billion security breach and outlined its custody safeguards in a Wednesday blog post. Separately, Binance said it had replenished approximately 98% of the assets affected by the breach.
Coinbase’s custody claims
According to Coinbase, more than 99% of customer assets are held in cold storage. The exchange said it uses distributed private keys, withdrawal limits and anomaly detection to guard against unauthorized transfers.
Coinbase also said customer assets are held 1:1, remain customers’ property and are not lent or otherwise used without customer authorization. These are statements from the exchange, rather than an independent assessment of its safeguards.
The company said advances in artificial intelligence were changing the security landscape and that it would continue investing in security.
Binance’s replenishment and liquidity constraints
The reported Binance exploit occurred on Oct. 29, 2026. Binance said Tuesday that attackers had used a fake job interview and an internal AI tool to assist the breach.
In its Wednesday update, Binance said it had expanded its Proof of Reserves coverage to 44 tokens, from 10 previously. It was acquiring the remaining 2% of affected assets through market and over-the-counter channels, with lower liquidity extending the time needed for those purchases. The exchange said a new zero-knowledge proof was expected to take 50 to 60 hours to generate.
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 faster.
The liquidity observation in this report concerns Binance’s purchases of the remaining assets. It does not establish a broader market-liquidity trend or a directional price signal.