Coinbase: Wallet migration is imminent; large on-chain transfers to the new address are part of the planned operation.

According to Mars Finance, on November 22nd, Coinbase officially announced that it would begin a wallet migration in 30 minutes. During this period, users may see large on-chain transfers between Coinbase-controlled wallets and new Coinbase wallets. This is a planned operation designed to help Coinbase maintain the highest level of security standards in the industry. Users can still trade, send, and receive crypto assets normally during the migration, as this is only a wallet migration and is not expected to cause any downtime for any Coinbase products. Deposit addresses used for deposits will also be unaffected.