Coinbase Migrates Wallets Amid $84,000 Bitcoin Safeguard Push

- Coinbase transfers funds to new internal wallets to counter evolving cybersecurity risks. - Migration addresses future threats like quantum computing to reinforce user asset security. Coinbase, one of the world’s leading cryptocurrency exchanges, executed a scheduled transfer of funds to new internal wallets on November 22, 2025. This strategic move safeguards assets by reducing long-term exposure associated with publicly known wallet addresses. The transfer included substantial balances of Bitcoin, Ether, and other digital tokens. In a blog post on November 22, Coinbase reported that its proactive measures are designed to stay ahead of security challenges such as sophisticated cyberattacks and the emergent risks of quantum computing and artificial intelligence. The company aims to mitigate vulnerabilities from "harvest now, decrypt later" tactics, in which malicious actors intercept and store encrypted data to decrypt it later using advanced technologies. Notably, Coinbase confirmed the migration was not prompted by a data breach or external threat; instead, the initiative demonstrates its preventive approach to asset protection. The company also advised users to remain cautious during this transition, warning them against phishing scams and emphasizing that it would never request sensitive information like login credentials or funds via direct communication. Furthermore, it urged customers to verify all correspondence to avoid impersonation scams. Meanwhile, according to data from CoinMarketCap, as of 17:08 UTC on November 22, Bitcoin (BTC) traded at $84,512.35, reflecting a 0.93% dip in 24-hour trading volume. During the same period, Ethereum (ETH) traded at $2,746.67, down 1.44%.