Coldcard Chaos Sparks Bitcoin Whale Activity Surge
Bitcoin's network activity has surged to a three-month high, driven by a recent security incident involving Coldcard hardware wallets.
A total of 712,000 addresses were active on the Bitcoin network over the past seven days, with 61,800 transactions worth more than $100,000 recorded during the period.
The incidents affected users who had weak keys generated by their devices, leading to a mass exodus of funds as they rushed to consolidate wallets and reduce exposure.
Santiment estimates losses at above 2,055 BTC, or about $130 million, while Galaxy Research identified that the tokens were stolen from 7,300 addresses across three confirmed waves of attacks.
CoinKite later released emergency firmware updates for affected models and destroyed remaining vulnerable inventory.