Coldcard wallet vulnerability losses could reach about 2,055 BTC, or roughly $130 million
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Galaxy Research estimates a Coldcard hardware-wallet seed-generation vulnerability may have enabled theft of up to ~2,055 BTC (~$130M) across multiple coordinated waves, with attacks still active. The event undermines confidence in Bitcoin self-custody and could prompt near-term security-driven flows as users migrate funds and scrutinize firmware/seed practices. With ~90% of stolen BTC reportedly unmoved, monitoring exchange freeze efforts and on-chain movements remains critical.
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Galaxy Research said a vulnerability affecting Coldcard hardware wallets could drive losses to about 2,055 Bitcoin, valued at approximately $130 million. The firm has identified 1,596 BTC stolen from around 7,300 addresses across three confirmed attack waves, plus 14 smaller incidents. The flaw involves recovery seeds generated on several Coinkite Coldcard models, including Mk3, Mk4, Mk5 and Coldcard Q. Investigators are still assessing a suspected fourth wave of thefts.
