Overview
- Large transfers seen on public ledgers reflect moves between Coinbase-controlled legacy wallets and new exchange addresses, not customer outflows.
- Trading, deposits and withdrawals continue without interruption, and customer deposit addresses remain unchanged during the process.
- Coinbase says the rotation was planned in advance and is unrelated to a breach or to market volatility.
- The company warns of impersonation scams and stresses it will never ask for passwords, 2FA codes or seed phrases.
- Industry commentary ties more frequent rotations to rising cyber risks such as AI-assisted reconnaissance and long-term quantum threats, and Coinbase will post a blog update when the migration completes.