The estimated losses from the Coldcard attack have climbed to $90M, with 1,367+ BTC drained from over 4,500 wallets.
The active fourth wave has impacted 462 wallets, shifting 388.92 BTC across 218 transactions into 216 newly created addresses.
What started as a warning has become one of the most serious hardware wallet security incidents in Bitcoin’s history. Over the past three days, Coldcard devices running vulnerable firmware have been drained by attackers who discovered a critical flaw.
The seed phrases generated by affected devices had lower entropy than intended, making them predictable and exploitable. The damage had reached an estimated $90 million stolen from over 4,500 wallets, with over 1,367 BTC drained across multiple coordinated waves of attacks.
The Fourth Wave Is Still Active
Alex Thorn, Head of Research at Galaxy Research, flagged a likely fourth wave. The pattern across blocks 960,778 to 960,792, spanning roughly 2.5 hours, showed 218 transactions
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