Coinbase Shifts Crypto to New Onchain Wallets in Planned Migration

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Crypto exchange Coinbase initiated a large fund migration on Saturday, moving tokens to new internal wallets in a scheduled, routine security procedure to reduce long-term exposure of keeping funds in the same wallet addresses, which are publicly known.

The migration is not due to any cybersecurity breaches or external threats, according to an announcement from the company. Coinbase said: 

“Migrating wallets periodically is a well-accepted best practice that minimizes long-term exposure of funds. This is a planned migration and unrelated to industry…



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Coinbase Shifts Crypto to New Onchain Wallets in Planned Migration


Crypto exchange Coinbase initiated a large fund migration on Saturday, moving tokens to new internal wallets in a scheduled, routine security procedure to reduce long-term exposure of keeping funds in the same wallet addresses, which are publicly known.

The migration is not due to any cybersecurity breaches or external threats, according to an announcement from the company. Coinbase said: 

“Migrating wallets periodically is a well-accepted best practice that minimizes long-term exposure of funds. This is a planned migration and unrelated to industry…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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