Bitcoin Price Crash Looms as Critical Exploits Hit Market

A wave of critical security exploits has hit the Bitcoin market, prompting fears of a fresh price crash. The attacks have been described as some of the worst to hit the technology in over 15 years.

The exploits include an attack on hardware wallet Coldcard that saw almost $100 million worth of Bitcoin drained from over 5,200 addresses in just a few days. The developers of Coldcard have urged users to move their funds immediately.

Meanwhile, the BTCPay Server has been hit by a critical vulnerability, with attackers exploiting it to steal funds from users. The team behind BTCPay has warned users to update their servers as soon as possible.

A volunteer group of Bitcoin developers, known as the Bitcoin Red Team, has been carrying out a coordinated security audit using AI tools. In just 24 hours, they have identified almost 5,000 security vulnerabilities across nearly 400 projects, including 85 critical and 635 high-severity bugs.