Coldcard Bitcoin theft tops $100M across 3 confirmed attack waves: Galaxy
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Confirmed losses from the Coldcard Bitcoin wallet attacks have surpassed $100 million, with 1,596 BTC stolen from roughly 7,300 addresses across three major attack waves and 14 smaller incidents, according to Galaxy Research. Galaxy Digital’s research arm reported that 73 victims had come forward, confirming the initial major attacks and helping to identify additional smaller incidents. Galaxy also detected a suspected fourth wave potentially increasing total losses to 2,055 BTC, but excluded it from the confirmed total pending victim confirmation.
Why it matters
This development highlights ongoing security vulnerabilities affecting Coldcard wallets, which has led to significant Bitcoin thefts. Galaxy Research emphasizes that attacks are still occurring and advises users of uncertain security to immediately migrate their funds to safer addresses. The sharing of attacker and victim data with US federal law enforcement and crypto exchanges indicates an active response to combat these thefts.
Key context
The Coldcard wallet has been targeted in multiple hacking waves, with the initial estimate of losses updated as new evidence and victim reports emerged. The confirmed thefts increased from an earlier traced amount of 1,367 BTC across 4,585 addresses to the current figure of 1,596 BTC from around 7,300 addresses. The fact that 90% of stolen Bitcoin remains unmoved is pertinent to ongoing investigations and recovery efforts.
Key numbers and entities
Galaxy Research, the research arm of Galaxy Digital, is the primary source of the findings. Confirmed losses are 1,596 BTC, exceeding $100 million in value, involving approximately 7,300 addresses. A suspected fourth wave could bring total losses to 2,055 BTC (around $130 million). 73 victims have reported to Galaxy. US federal law enforcement and crypto exchanges have been informed with relevant address data.
What remains unclear
Galaxy Research has not yet received victim confirmation for the suspected fourth wave, leading to its exclusion from the confirmed loss tally. The article does not specify the exact vulnerability exploited or the identities of the attackers. The full scope and ongoing nature of the attacks create some uncertainty about total losses and potential future incidents.