Bitcoin Plunges Amid Fears Over Coldcard Wallet Hack

Bitcoin has taken a hit after concerns were raised about an ongoing hack of Coldcard digital wallets. The security flaw is suspected to have allowed attackers to steal approximately $70 million worth of Bitcoin in under an hour.

The issue was first identified by security researchers, who warned users of the potential vulnerability. Coinkite Inc., the manufacturer of the Coldcard wallet, has since urged its customers to transfer their Bitcoin holdings as soon as possible.

Meanwhile, Bitcoin exchange-traded funds (ETFs) recorded significant outflows on Friday, further contributing to the decline in Bitcoin's value.

As a result, the price of Bitcoin fell 1.3% to $62,591, according to data from LSEG.