Bitcoin Losses From Coldcard Vulnerability Surge to $70M, Galaxy Research Warns

TL;DR

• Galaxy Research estimates that attackers drained more than 1,000 BTC, worth approximately $70 million, from nearly 1,200 Bitcoin addresses linked to a firmware vulnerability affecting Coldcard hardware wallets.
• Coinkite acknowledged the firmware issue, expanded the list of affected devices, and released emergency updates, urging users to migrate funds to newly generated wallets as soon as possible.
• Despite the incident, hardware wallets remain one of the safest methods for long-term Bitcoin self-custody when users keep firmware updated and follow recommended security practices.
  

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Bitcoin losses linked to the Coldcard vulnerability have climbed to approximately $70 million, according to Galaxy Research, after investigators connected more than 1,000 BTC stolen from nearly 1,200 addresses to a flaw affecting several firmware versions of the popular hardware wallet. The incident has renewed attention on wallet security while reinforcing the importance of timely firmware updates and responsible self-custody.

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