Coincoin said on November 4 that it was not affected by the reported Binance hot-wallet incident and that more than 99% of customer assets were held in cold storage. The exchange outlined its safeguards, including distributed signing keys, withdrawal limits, anomaly detection and emergency procedures capable of halting transaction signing. Cold storage reduces the exposure of reserves to compromises affecting internet-connected systems, but it does not protect against account takeover, fraud, software defects or legal restrictions. The disclosure comes as the industry investigates a reported multi-billion-dollar Binance exploit and stablecoin issuers coordinate tracing and freezing efforts for assets that have left a platform.
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