Coldcard Breach Highlights Widespread Crypto Security Risks
Crypto hacks have continued to plague the industry, with July's losses reaching $247.4 million, according to data from DefiLlama.
This figure marks the second-highest monthly total this year and represents a significant increase from June's $75 million and more than quadruples May's $60 million in losses.
The largest single incident was the Coldcard breach, which involved the compromise of a popular hardware wallet provider. Galaxy Digital estimated the damage could reach as much as 2,055 BTC, roughly $132.39 million at current exchange rates.
This breach is particularly notable because it challenges the assumption that cold wallets are immune to large-scale attacks, highlighting the need for users to stay informed about firmware updates and security advisories from their wallet providers.