Coinkite Faces $130M Loss After Coldcard Firmware Exploit
Coinkite, the maker of Coldcard hardware wallets, has announced plans to release a detailed technical post-mortem of the recent firmware exploit that allowed hackers to steal millions in Bitcoin.
The exploit, which was discovered last week, has resulted in confirmed losses exceeding $100 million, according to Galaxy Research. However, including suspected but unconfirmed incidents could lift total losses to around $130 million, the firm said.
Coinkite declined to confirm estimates that hackers stole about $130 million in Bitcoin due to its privacy-first design, which lacks customer data needed for verification.
The team stated that their immediate focus was on helping customers affected by the exploit. They will continue providing real-time updates through their public blog before publishing a comprehensive review of the incident.