Crypto
Bitcoin Slumps Below $63,000 Amid Coldcard Wallet Exploit
Bitcoin's price dropped below $63,000 on Monday as traders struggled to come to terms with a security exploit linked to Coldcard wallets. The incident has led to nearly $89 million being drained from affected addresses.
The cryptocurrency fell from a Sunday peak of $63,600 to around $62,800 by late morning trading, despite a more favorable macro environment due to renewed hopes of a US-Iran deal.
Other large-cap tokens also softened, with Ether down 5% and XRP easing to about $1.07. Only BNB managed to buck the trend among the majors, rising slightly over the week.
The exploit has raised concerns about wallet security and the effectiveness of self-custody as a safe harbour for investors.