Coinbase carried out a large internal wallet migration on Saturday, shifting Bitcoin, Ether, and other token balances to newly designated internal addresses.
The exchange clarified that the move was a scheduled security procedure aimed at reducing long-term exposure from keeping funds in the same, publicly known wallets. Coinbase stressed the process was not triggered by a breach or external threat.
The company also warned users about potential phishing attempts, noting scammers may impersonate Coinbase staff during the transition. The reminder highlights ongoing risks from hacks, scams, and cyberattacks targeting centralized crypto platforms.
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