$1.6 Million Drained in a Blink: User Recounts His Dramatic Coldcard Wallet Hack

NewsSun, 02 Aug 2026 13:19:53 UTC1 hour ago

A Canadian entrepreneur lost more than $1.6 million in Bitcoin (BTC) from a Coldcard hardware wallet in under seven minutes, part of a wave that may total 1,367.05 BTC.

The case exposes an uncomfortable truth about self-custody: doing everything right may not be enough.

How One Holder Lost 18 BTC in Seven Minutes

Cold storage means keeping private keys on a device that never touches the internet. Jonathan Goodman followed that principle carefully, storing his Coldcard in a safety deposit box.

His 18.25 BTC sat in wallets secured across multiple safes. He never shared his seed phrase and kept every device isolated from online exposure.

None of it mattered on July 29, 2026. Between 9:36 and 9:43 that evening, every wallet he controlled was emptied.

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$1.6 million dollars in Bitcoin was drained from my account on July 29th in the Cold Card wallet hack.

My Bitcoin was in cold storage. My keys were on a ColdCard device kept in a safety deposit box that had never been connected to the internet.

This part's nerdy, but here's… pic.twitter.com/Lf9kJv9Jo4
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$1.6 Million Drained in a Blink: User Recounts His Dramatic Coldcard Wallet Hack

How One Holder Lost 18 BTC in Seven Minutes

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