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Crypto · November 4, 2026

Coinbase Says 99% of Customer Crypto Is Offline and Out of Hackers’ Reach

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Following a massive security breach at Binance, Coinbase has assured its users that over 99% of its customer assets are kept in offline cold storage and remain unaffected by the incident. The attack reportedly involved fake job interviews and tampered software to gain access to internal systems. While Coinbase detailed its use of split private keys and kill switches as protective measures, North Korea has officially denied involvement in the Binance heist.

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Hype check

How the hype check works

Confirmed · 2

Backed by filings, on-chain data, official statements or several independent publishers.

  • Coinbase keeps 99% of customer assets in cold storage (Coinbase)
  • Binance was targeted by a social engineering scheme involving fake interviews (Binance)

Claimed · 2

Said by a company, project or person; not yet independently confirmed.

  • North Korean hackers are responsible for the heist (Binance)
  • The theft is a 'grave political provocation' (North Korea state-backed media)

Speculation · 1

Price talk, forecasts or unnamed sources, quoted as someone else's view.

  • The event is the 'largest bank heist in history' (Breitbart)

Reported by multiple outlets

  • Coinbase maintains over 99% of customer assets in offline cold storage.
  • Coinbase was not affected by the security breach targeting Binance.
  • Binance suffered a multi-billion dollar crypto theft.
  • Binance linked the attack to North Korean state-backed actors.

Reported by only some outlets

  • The breach at Binance involved a fake job interview scheme targeting employees.
  • North Korea denied involvement in the Binance theft, calling it a 'political provocation'.
  • Coinbase uses split private keys and 'kill switches' as part of its security infrastructure.
  • The initial malware at Binance was disguised as an AI coding tool.
  • The Binance heist is being described by some as the largest bank heist in history.

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CadNews does not determine absolute truth or endorse political viewpoints. It compares publicly available reporting, identifies shared facts, highlights framing differences, and flags uncertainty.