Coinbase: Wallet Migration Imminent, Large On-chain Transfer to New Address Considered a Planned Operation

BlockBeats News, November 22, Coinbase's official announcement stated that, in 30 minutes, Coinbase will begin a wallet migration. During this time, users may see large on-chain transfers between wallets controlled by Coinbase to the new Coinbase wallet. This is part of a planned operation designed to help Coinbase maintain the highest security standards in the industry.

During the migration, users can still transact, send, and receive cryptocurrencies as usual, as this is just a wallet migration and is not expected to cause any downtime for any Coinbase products. Deposit addresses used by users will also not be affected.