Bitcoin News
By Bruce Buterin
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Coinkite's Data Mess Makes Things Worse. The stolen bitcoin is only part of the story. Coinkite walked into a separate fire when it came…
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Who's Actually Tracking the Stolen Funds. With ZachXBT stepping back, Galaxy Research picked up the monitoring work.
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Blockchain investigator ZachXBT won't touch the Coldcard case. He made it plain: his attention goes to ecosystems that actually value what he does, and Bitcoin's community, at…
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The hack itself has been running for five days. It started with a firmware flaw inside Coldcard Mk3 hardware wallets made by Coinkite.
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The stolen bitcoin is only part of the story. Coinkite walked into a separate fire when it came out that the company retains customer email addresses indefinitely.
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The backlash was fast. People in the crypto community started asking harder questions about what hardware wallet manufacturers actually do with customer data, how long they keep…
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Some observers have started wondering whether incidents like this push more cautious investors toward exchange-traded funds instead.
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Related: CoinFlip-Style Hardware Hack: $70 Million Gone From 1,196 Coldcard Wallets
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With ZachXBT stepping back, Galaxy Research picked up the monitoring work. The firm has been tracking the attacker's movements and putting out updates on where the stolen BTC is…
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There's also been some onchain noise. Someone posted a bitcoin laundering offer directly on Bitcoin's blockchain during the chaos. Public, visible, bizarre.
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The broader challenge here is real. ZachXBT's absence isn't just a PR problem for Bitcoin's community — it's a practical one.
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See also: Bitcoin Drops to $63,350 as Coldcard Exploit Wipes $88.6 Million Across 4,585 Wallets
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Coinkite, for its part, has had to keep defending itself on two fronts simultaneously: the firmware flaw that let the hack happen, and the data retention practices that shouldn't…
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Users still running unpatched Mk3 firmware are the most exposed. Seeds generated between March 2021 and the patch release could still be vulnerable if those wallets haven't been…
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