CertiK recommends that crypto exchanges implement hard dollar caps on hot wallets to mitigate risk, noting that high cold-storage ratios alone are insufficient to prevent losses or ensure operational liquidity.
Coinbase is cited as disclosing that more than 99% of customer assets are kept offline, positioning it among the most conservative custodians after the Binance hot-wallet hack. If hard hot-wallet caps become standard, Coinbase's existing practice means little adjustment cost. The mention is contextual in a security-practices debate, not a company disclosure, so the price effect is marginal.
The article discusses aftermath of the record Binance hack, with Binance saying it replaced about 98% of affected tokens and analysts seeing no broader contagion from the $6.3B theft. The absence of contagion supports stability, but the piece itself is about security policy recommendations rather than fresh market-moving events, so any price effect on crypto broadly is limited.
Cybersecurity firm CertiK is calling for crypto exchanges to implement hard dollar limits on hot-wallet holdings to improve security beyond traditional cold-storage ratios. The recommendation follows the record $6.3 billion Binance hack, which prompted exchanges like Coinbase and Gate to disclose their cold-storage percentages. CertiK warns that rigid storage requirements can inadvertently slow withdrawals and concentrate risks within key-management systems.
No. The article only cites Coinbase stating it keeps more than 99% of customer assets offline as an example of cold-storage disclosure after the Binance hack.
The article references analysts seeing no broader contagion from the $6.3B Binance hack, and Binance says it has replaced approximately 98% of affected tokens and will absorb the losses.