Cybersecurity firm CertiK is urging crypto exchanges to adopt hard dollar limits on their hot-wallet holdings, arguing that relying solely on cold-storage ratios is insufficient for security. The recommendation follows recent disclosures by exchanges like Gate and Coinbase, which revealed that 88.26% and more than 99% of their assets, respectively, are held in cold storage. These moves aim to reassure customers after the record Binance hack, which targeted hot wallets.
CertiK’s research team told Cointelegraph that while cold storage reduces online exposure, it is not a standalone security score. The firm noted that rigid storage ratios could slow withdrawals and concentrate risk in key-management systems. CertiK suggested setting hot-wallet caps for each asset and blockchain based on customer liabilities, withdrawal needs, and financial recovery capabilities.
Binance has replenished approximately 98% of the affected tokens following the hack and will absorb the remaining losses. Meanwhile, Elliptic reported that North Korea-linked hackers have created memecoins to launder funds from the theft, tracing roughly $430,000 through six newly launched tokens on NEAR.