Crypto
$38M BTC Transfer Sparks Security Concerns for Coldcard Mk3 Users
Coinkite has issued a warning to users of the Coldcard Mk3 hardware wallet after a $38.2 million Bitcoin transfer raised security concerns.
The company recommends affected users generate a new recovery seed using an unaffected device and transfer their funds as a precautionary measure.
No confirmed link has been established between the wallet issue and the on-chain movement, but Coinkite is investigating the matter further.
Security researchers have identified a coordinated transfer of 594.48 BTC across 500 transactions, with around 562 BTC consolidated into a single address.