[ShopCat]

Originally Posted by Wayne 962

It's similar with Coinbase or the other "wallets" for crypto. That is one of the reasons why when Mt. Gox got hacked, the hackers ran away with the reserve accounts that were "allocated" to the account holders. Mt. Gox simply wiped out those balances and "readjusted" everyone's account internally. What a screw! That's called bank fraud here in the US, but apparently not everywhere else...

https://www.reuters.com/investigates/special-report/bitcoin-gox/

Coinbase has a relatively vague press release about how they "perform transactions" and then reconcile the blockchain in a batched process after the fact:
https://blog.coinbase.com/coinbase-rolls-out-bitcoin-transaction-batching-5f6d09b8b045

-Wayne

I knew they did batch transactions but I think the coins still go to your individual wallet, but I guess no one knows for sure but coinbase.