Crypto Exchanges Reveal Asset Storage Ratios Following $6.3 Billion Binance Hack

Major exchanges disclose offline storage levels

Several cryptocurrency exchanges have released data regarding how they store customer funds following a major security breach at Binance last week. A cryptocurrency exchange is a platform where users buy and sell digital assets. The move comes after attackers stole roughly $6.36 billion from Binance’s “hot wallets,” which are storage systems connected to the internet.

To reassure customers, platforms like Coinbase, Gate, and Upbit disclosed their “cold storage” ratios. Cold storage refers to keeping digital assets in offline wallets that are not connected to the internet, making them much harder to hack. Most of these exchanges report keeping the vast majority of user funds offline to prevent similar losses.

Key storage figures reported by exchanges

• Coinbase reports that more than 99% of customer assets are held in offline cold storage.
• Upbit, the largest exchange in South Korea, confirmed it holds 99.17% of its assets in cold wallets.
• Gate reported that 88.26% of its total assets are in cold storage and launched a new “Proof of Security” framework.
• OKX stated in a recent security overview that it keeps more than 95% of client assets in cold wallets.

Confirmed details on asset distribution

The reported data shows a high level of offline storage across several major platforms. In South Korea, Upbit’s 99.17% ratio is significantly above the local regulatory minimum of 80%. Other South Korean exchanges also shared their figures as of late September 2026, including Bithumb at 94.76%, Coinone at 85%, Digital X at 82.79%, and GOPAX at 80.54%.

Gate claims its cold storage holdings are large enough to cover 104.58% of customer assets even if its internet-connected wallets were completely drained. Binance CEO Richard Teng stated that the “vast majority” of their user assets are in cold wallets, though the company has not provided a specific percentage split.

Limitations and security concerns

While high cold storage ratios are a positive sign for security, they do not guarantee total safety. Industry experts and regulators have noted that cold storage ratios only show part of the security picture. Different exchanges may use different methods to calculate these figures, making it hard to compare them directly.

Furthermore, Hong Kong’s Securities and Futures Commission previously warned that offline wallets can still be at risk. Security can be compromised through weak access controls, issues with the systems used to sign transactions, or employees accidentally approving fraudulent transfers.

Why asset storage methods matter

The distinction between hot and cold wallets is vital for the security of a crypto exchange. Hot wallets are necessary for providing quick liquidity so users can withdraw their funds immediately, but their internet connection makes them a target for hackers. The Binance attack saw billions of dollars stolen in approximately 20 minutes, highlighting the risks of keeping large amounts in connected systems. By disclosing high cold storage ratios, exchanges aim to prove they are limiting the amount of capital exposed to such rapid attacks.

Sources

• Cointelegraph
• Gate
• Coinbase
• TRM Labs
• OKX