Every major exchange keeps almost all of its funds in a cold storage to protect customers’ money from hackers. However, Coinbase takes these security precautions a tad further by reportedly printing private keys in a remote Faraday tent that eliminates the possibility of hackers intercepting electromagnetic signals.
The tent, where the whole ritual takes place, is erected in a randomly chosen place. It contains two laptops picked by a coin toss– a Linux-based laptop transfers the key to a MacBook that is used for printing. Once the procedure is over, these laptops are physically destroyed to make sure that none of the data leaks.
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Tomiwabold Olajide
Dan Burgin
Vladislav Sopov