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This is incorrect, customer funds go to cold storage regardless of whether they're in a vault or wallet. This feature is intended to protect against account tak

by aianus 9y ago

This is incorrect, customer funds go to cold storage regardless of whether they're in a vault or wallet. This feature is intended to protect against account takeover, not the Coinbase hot wallet getting hacked. (I worked at Coinbase a little while back)

Nydhal 9y ago
What kind of software engineers are they hiring? I'm senior CS student and want to work in this space (crypto). Could you recommend any subject to dive into?
- aianus 9y ago
  https://www.coinbase.com/careers https://www.coinbase.com/careers I'm sure crypto projects and experience are a plus :)
elorm 9y ago
You seem to misunderstand my statement. Let me explain a little further please. Your coins are not safe/secure while they are with coinbase, and will never be because you do not own the private keys. It does not prevent you from losing your money in the event of worst case scenarios, it just makes it harder for someone to steal your money while it is in the care of coinbase.
- aianus 9y ago
  > However your coins will most likely be moved to "Cold storage" This is the part I was responding to. It sounds like you're saying that using the vault feature will move your coins into cold storage. In fact, they were always in cold storage.