Centralized Exchanges See Record Inflows After Coldcard Exploit

OKX has reported that digital asset inflows into centralized exchanges have reached a record high since the Coldcard vulnerability was exploited. The company's chief compliance officer, Jonathan Brockmeier, stated that this trend is a reversal from what occurred during the FTX collapse, when users moved assets into self-custody.

The Coldcard vulnerability led to the theft of over 1,300 BTC, worth around $80 million, through repeated incidents across thousands of addresses. OKX prevented approximately $26.3 million in fraud losses by blocking suspicious transactions using artificial intelligence.

Brockmeier highlighted the limitations of self-custody, stating that users are required to become their own security experts. He emphasized that while OKX supports customers who prefer this approach, it also offers a safer alternative through its dedicated global team and AI-powered detection system.