Galaxy Flags More Than 15 Distinct Attackers in Ongoing Coldcard Exploit Following New Reports

TL;DR

• Galaxy identified at least 15 attackers after new victim reports exposed previously hidden Coldcard thefts, including 12 BTC removed from 126 addresses.
• Confirmed losses reached about $100 million across three waves, while a suspected fourth attack could lift the total near $130 million in Bitcoin.
• Researchers disputed whether cheap AI testing could have prevented the flaw, but agreed that reduced 40-bit entropy made affected wallet seeds easier to attack independently.

Galaxy Digital says at least 15 distinct attackers exploited the Coldcard vulnerability, based on new victim reports after the incident became public. Alex Thorn explained that individual disclosures helped analysts label attackers that otherwise would have remained hidden because the exploit differed from a centralized exchange breach. Fresh reports are revealing a fragmented campaign rather than one coordinated theft operation. In one case, a victim reporting less than 1 BTC stolen enabled researchers to identify an attack that removed 12 BTC from 126 addresses, showing how a small complaint can expose a much wider pattern.

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