Bitcoin Price Holds Steady Amid $130 Million Coldcard Wallet Hack
A major security breach has affected Coinkite's Coldcard wallet, leading to the theft of $130 million worth of Bitcoin. The incident highlights the risks associated with self-custody wallets and may prompt some investors to seek more secure alternatives.
The hack did not affect the underlying Bitcoin blockchain itself, which continues to operate as normal.
Despite this, Bitcoin spot exchange-traded funds (ETFs) have seen significant inflows of $382 million over the first two days of this week. The iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund were among the top recipients of these investments, accounting for 74% and 14% respectively.
These ETFs are sponsored by large investment companies with trillions of dollars in assets under management, which may appeal to investors seeking a more secure and institutional-grade option for their Bitcoin holdings.