The Coinbase crypto exchange shifted many of its tokens to new wallet addresses in a planned migration, a normal security practice among exchanges.
The crypto exchange said the planned internal migration is a normal, "best practice" in the industry to maintain cybersecurity standards.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.
“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 changes or price conditions. This is not in response to a data breach incident or external threat.”), and other token balances will be moving onchain from Coinbase wallets to other internal Coinbase wallets already labeled by blockchain explorers and intelligence platforms.representatives and reaching out to customers requesting login information or asking users to shift funds, which the exchange never doesThese centralized repositories containing vast quantities of information or tokens are attractive to threat actors, who often plan these attacks for months and see the large centralized systems as honeypots. The emergence of artificial intelligence and AI-powered tools also gives hackers an edge in assembling heuristic clues through publicly known information and other metadata that can compromise sensitive information or lead to theft, cybersecurity experts tell Cointelegraph. Quantum computers also pose a threat to current cryptographic technology, which is not far off in the future, but may have already materialized retroactively, Gianluca Di Bella, a smart-contract and zero-knowledge proof researcher, told Cointelegraph. Threat actors may be compiling crypto public keys now until a sufficiently powerful quantum computer is invented. Cryptographic protocols must switch to post-quantum security standards as soon as possible to neutralize the threat of retroactive hacking, Di Bella said.Price predictions 11/21: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, ZEC, BCH
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