Multiple Crypto Trading Platforms Tighten Security Measures as Coinbase Adjusts Cold Storage System

October 31 – According to a report by the UK's Financial Times, multiple crypto trading platforms are stepping up security measures after Binance suffered a $6.3 billion theft. Coinbase Chief Security Officer Jeff Lunglhofer said the company has made partial adjustments to its cold storage system "purely out of prudence." Gemini has added alerts and restrictions for fund transfers, while Kraken said it is closely monitoring the situation and its platform services are running normally. Coinbase Vice President of Product Will Megson also said the company is significantly upgrading its phone protection measures to protect users from scam calls. He noted that scammers often keep the line open to trick victims into changing their account settings.

Chainalysis attributed the attack to the North Korea-linked hacking group TraderTraitor, saying the attackers used automated tools to move stolen funds on the Tron network. OKX CEO Star Xu called on the industry to establish real-time security incident reporting, coordinated monitoring of suspicious funds and rapid response mechanisms, and to strengthen its response to AI-driven security threats.