Coldcard Chaos Sparks Bitcoin Activity Surge Amid Whale Accumulation

Bitcoin activity has surged sharply over the past week, with 712,000 addresses active in the past seven days.

This marks a three-month high according to Santiment's findings.

Whale activity also hit a five-month high, with 61,800 transactions worth more than $100,000 recorded during the period.

The recent security incident involving Coldcard hardware wallet is likely the catalyst behind this rise in activity, as affected users rushed to move funds and consolidate wallets.

Galaxy Research identified that tokens were stolen from 7,300 addresses across three confirmed waves of attacks, with possible assistance from large language models.

The firm suspects losses could be higher if a potential fourth wave of attacks is confirmed.