Coinkite Warns Coldcard Mk3 Users to Move Funds Amid Unsettling Sweep

A security advisory from Canadian hardware wallet vendor Coinkite has prompted users of its Coldcard Mk3 signing device to take action and move funds away from wallets whose seed phrases were generated on certain firmware versions.

The affected firmware versions are 4.0.1 through 5.0.3, and the company warns that seeds created on these versions may put funds at risk.

CoinGecko estimates that a recent sweep of 594.48 BTC from single-signature addresses is worth around $38.3 million based on Bitcoin's current price of $64,364.07.

Coinkite advises users to generate a fresh seed on an unaffected device, verify backups and receiving addresses, send test transactions, and then move remaining funds.