Cryptocurrency exchange Coinbase has announced the execution of scheduled internal wallet migrations for Bitcoin (BTC) and Ethereum (ETH) as part of its ongoing security upgrades. The company emphasized that this activity is routine, fully planned, and not triggered by any hack, incident, or market event.
Coinbase is moving funds from older internal wallets into newly generated, institution-grade wallets to minimize long-term exposure risks and maintain high security standards. These large on-chain transactions, visible to the public, follow widely accepted best practices used by major custodians. The exchange confirmed that all transfers originate from and move directly into Coinbase-controlled addresses, with no impact on user operations—trading, deposits, and withdrawals continue normally, and customer deposit addresses remain unchanged.
In a security reminder, Coinbase warned users to stay vigilant against impersonation scams during the migration, as scammers may attempt to pose as support agents. The company reiterated that it never asks for passwords, 2FA codes, or requests fund transfers to external addresses. This proactive migration underscores Coinbase's commitment to operational security, reducing risks from potential attack vectors like AI-powered threats or future quantum computing vulnerabilities, without ties to price volatility or regulatory changes.
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