$114M Bitcoin Theft: Coldcard Releases Firmware Patch with Warning

Coldcard has released new firmware following a $114 million Bitcoin theft tied to a flaw in its hardware wallet. The update comes after three weeks of review that uncovered additional bugs unrelated to the original exploit.

The company warns that installing the firmware does not make an already compromised wallet safe, as it cannot recover a seed phrase or private key that has been exposed. If an attacker was able to extract key material through malicious firmware or another vulnerability, the exposed credentials remain dangerous no matter how many patches arrive later.

Coldcard's review apparently looked across the broader firmware codebase rather than just shipping a narrow fix, uncovering more than one weak point in the process. This AI-assisted approach fits a wider shift in crypto infrastructure, where teams are now layering automated tooling into their development pipelines.