Bitcoin Heist Leaves $88M in Losses as Hackers Drain Over 4,500 Addresses

A massive Bitcoin heist has left over $88 million in losses after hackers drained nearly 1,400 addresses of their funds. The attack occurred in three waves between July 30 and August 1, with the first wave draining 1,082 BTC from 1,195 addresses within 41 minutes.

The second wave, which took place approximately 27 hours later, targeted 1,478 addresses and stole an additional 76.16 BTC over a three-hour period. The third wave drained 207.73 BTC from various addresses.

Researchers at Galaxy Research noted that the second wave followed a pattern consistent with an automated tool systematically searching through potentially compromised private keys. However, the third wave deviated significantly from this pattern, leaving some questions about whether multiple attackers were involved.

The affected wallets belonged mostly to individual holders rather than exchanges or institutional custodians, with 500 addresses emptied within the first 25 minutes of the attack. A Canadian entrepreneur, Jonathan Goodman, reported losing over $1.6 million in his Coldcard wallet.