$15 Billion in BTC Flee Coldcard Heist as Investors Diversify

The recent hacking of Coldcard bitcoin wallets has led to a massive movement of funds, but it's not just about the $130 million stolen. A whopping $15 billion in BTC has been transferred to safer wallets over the past 155 days.

This significant migration is seen as a cautious move by serious investors, who are diversifying their holdings and reducing risk without eliminating it entirely. According to Glassnode, long-term holders' reserves dropped from nearly 15 million bitcoins to about 14.7 million, marking the largest weekly decline since December 2024.

The incident has highlighted the importance of speed in auditing one's own code, as a 5-year-old vulnerability was uncovered by AI and exploited by attackers. Nick Neuman, Casa's CEO, pointed out that this proves distributed self-custody works like an immune system, not a weakness.