Coinbase has initiated a routine upgrade to its internal wallets, transferring Bitcoin (BTC) and Ethereum (ETH) funds from legacy systems to new infrastructure designed to enhance platform security. This action is expected to have no impact on user balances or trading activities. 🤝 🔒 💸
The wallet migration process will occur without any downtime disruptions, ensuring continuous service for users during the transition. This upgrade aligns with Coinbase’s long-term strategy to strengthen security and maintain a robust platform as it expands its global user base.
Coinbase explains this internal improvement is part of a standard practice aimed at reducing long-term fund exposure risks and does not stem from external threats or market fluctuations. The company assures users that deposits will remain unchanged throughout the process, and they should stay vigilant against potential phishing attacks from opportunistic scammers during the migration period. 🛡️
Further details about this internal reorganisation can be found at https://twitter.com/WuBlockchain/status/1992240766329274825?s=20.