REALITY CHECK | Crypto Exchanges Disclose Cold Storage Ratios After the Historic Binance Hack

Major cryptocurrency exchanges are disclosing how much of their customers’ assets they hold in offline cold storage following last week’s $6.36 billion attack on Binance’s internet-connected hot wallets.

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• Coinbase has disclosed that more than 99% of customer assets are held in cold storage with excess assets continuously transferred offline.

• Gate has also disclosed that 88.26% of its total assets are held in cold wallets while the remaining 11.74% are maintained in hot wallets. Its newly introduced Proof of Security framework indicates that its cold storage could cover 104.58% of customer assets even if its hot wallets were completely drained.

The figures are undergoing independent third-party review.

Other exchanges have also disclosed their storage arrangements.

• South Korea’s Upbit reported that 99.17% of its assets were held in cold storage as of September 2026 leaving 0.83% in hot wallets.

Its parent company, Dunamu, said the ratio was the highest among the country’s five major cryptocurrency exchanges and exceeded the regulatory minimum of 80%.

Other South Korean exchanges reported lower cold storage ratios:

• Bithumb: 94.76%
• Coinone: 85%
• Digital X (formerly Korbit): 82.79%
• GOPAX: 80.54%