In the wake of Binance's $6.3 billion hack, multiple crypto exchanges have enhanced their security protocols, while Coinbase has adjusted its cold storage system.

According to a report from the Financial Times, after Binance’s $6.3 billion theft, multiple cryptocurrency exchanges are ramping up security measures and updating customers on their fund safety status. Coinbase Chief Security Officer Jeff Lunglhofer said the firm has made partial adjustments to its cold storage systems “out of an abundance of caution.” Gemini has added alerts and restrictions for fund transfers; Kraken stated it is closely monitoring the situation, with platform services operating normally. Coinbase Product Vice President Will Megson also noted the company is significantly upgrading phone security measures to protect users from scam calls, pointing out that scammers often stay on the line while tricking victims into modifying account settings. In a Friday evening update, Binance announced it had contained the compromised infrastructure, revoked affected authorizations, and added control measures to prevent further unauthorized activity. Its initial investigation found an engineer’s laptop was hacked, followed by the discovery of additional breach points. As of press time, withdrawals remained suspended, with the platform expecting a recovery in roughly 34 hours. Blockchain tracking firms attributed the attack to North Korea-linked hacker group TraderTraitor. Chainalysis said after the funds left Binance, attackers used automated tools to transfer stolen funds on the Tron network, and warned all exchanges to stay vigilant. OKX CEO Star Xu called on the industry to establish real-time security incident notification, collaborative monitoring of suspicious funds, and rapid response mechanisms for potential attacks, while also strengthening defenses against emerging AI-driven security threats.