Bitcoin News
By Dan Saada
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How the Coldcard Breach Actually Worked. Coinkite, the Toronto-based company behind Coldcard hardware wallets, got hit hard by a firmware…
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Why Blockchain Transparency Cuts Both Ways. Here's the uncomfortable part for the hacker. Bitcoin's public ledger is basically a live feed.
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A wallet tied to the Coldcard hack just moved. On August 7, on-chain tracker Lookonchain caught a transfer of 30.185 BTC — roughly $1.94 million — sliding into a new address.
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The total haul from the Coldcard breach sits at 2,055 BTC, currently worth around $130 million. The 30.185 BTC that moved is about 1.5% of that.
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The math is pretty stark: roughly 90% of the stolen bitcoin hasn't moved at all.
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Coinkite, the Toronto-based company behind Coldcard hardware wallets, got hit hard by a firmware flaw that most users probably didn't know existed.
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Galaxy Research dug into the attack history and found multiple waves. The first waves drained 1,596 BTC from around 7,300 addresses.
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Coinkite has urged affected users to migrate their funds. The company's position is straightforward: move assets out of compromised wallets, because the security flaw is real and…
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Read also: Coldcard Hack Drains $114M From 5,200 Wallets, Boosting ETF Appeal
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The 30.185 BTC that moved on August 7 is already tagged. Exchanges with decent compliance programs — and most major ones have them now — flag incoming funds linked to known theft…
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So the hacker's next move matters. A lot.
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Most of the stolen BTC is still sitting in original wallets, which on-chain analysts have been watching for months.
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Hardware wallet security has been a recurring problem across the industry. Coldcard's breach isn't the only case where firmware-level flaws created exploitable weaknesses, but…
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Coinkite's response has focused on getting users to move funds and on pushing the importance of true random number generators for seed creation.
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See also: Coldcard Bug Cost Bitcoin Holders Over 1,596 Coins and $100 Million
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