What steps has Coinbase taken to ensure user safety post the FTX merger?

1 answers

• Adam HitchmoughNov 01, 2024 · 9 months ago
  As a leading digital currency exchange, Coinbase understands the importance of user safety. Following the FTX merger, they have implemented a multi-layered security framework to protect user funds and personal information. This includes storing the majority of user funds in offline cold storage wallets, which are not connected to the internet and therefore less susceptible to hacking attempts. Coinbase also regularly conducts third-party security audits and penetration tests to identify and address any vulnerabilities in their systems. They have implemented strict internal controls and procedures to prevent unauthorized access to user data, and employ advanced encryption methods to secure sensitive information. Additionally, Coinbase has a dedicated incident response team that is available 24/7 to address any security incidents or breaches. These measures ensure that Coinbase users can trade with confidence and peace of mind post the FTX merger.
  959

  480