Galaxy puts Coldcard hack losses at 1,789 BTC, with 87% unmoved
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Galaxy Research has identified a total theft of 1,789.28 Bitcoin in the Coldcard hardware wallet hack, worth approximately $114.7 million at the time of the theft. Alex Thorn of Galaxy Research reported that 87.3% (1,561 Bitcoin) of the stolen funds have not been moved and remain in attacker-controlled addresses. Some Bitcoin from later attacks has been moved through obfuscation methods such as CoinJoin and peel chains.
Why it matters
The large portion of unmoved stolen Bitcoin allows for potential intervention by exchanges, compliance companies, or law enforcement to freeze these funds if they attempt to enter centralized platforms. This could impact the recovery and security of stolen assets within the cryptocurrency ecosystem.
Key context
The reported total is based partly on 221 victim reports covering 790.72 Bitcoin in losses, which account for 44.2% of the total attributed theft. Victims reported median individual losses exceeding 1 Bitcoin. Galaxy has been tracking and sharing attacker addresses to support efforts in theft mitigation.
Key numbers and entities
Galaxy Research, Alex Thorn (head of research at Galaxy), 1,789.28 Bitcoin stolen, 1,561 Bitcoin unmoved, 8,865 affected addresses, $114.7 million estimated value at theft time, 221 victim reports, median loss of 1.04272 Bitcoin per report.
What remains unclear
The report does not specify the full identity or location of the attackers, the precise vulnerabilities exploited in Coldcard, or the current status of any law enforcement actions beyond the sharing of attacker addresses. The impact on individual victims beyond median statistics is also not detailed.