Coinbase Initiates Internal Bitcoin and Ethereum Wallet Migration
Coinbase completed migration of BTC and ETH holdings to new internal wallets, maintaining uninterrupted user services while warning customers about phishing-related risks.
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Summary
Coinbase announced it has completed the migration of its Bitcoin (BTC) and Ethereum (ETH) wallets, moving funds from old internal wallets to new ones. The process preserved deposit addresses and caused no disruption to services. The company reiterated the importance of user vigilance against phishing scams during and after the migration.
Terms & Concepts
- Wallet Migration: The process of transferring cryptocurrency holdings from one wallet address to another, usually for security or technical upgrades.
- BTC: Abbreviation for Bitcoin, the first and most widely recognized cryptocurrency.
- ETH: Abbreviation for Ethereum, a blockchain platform known for smart contracts and decentralized applications.