Coldcard Crisis Sparks Record-Breaking Fear Among Bitcoin Investors

The Bitcoin price has remained relatively stable despite a surge in fear and uncertainty on social media channels. The current crisis surrounding Coldcard, a self-custody wallet solution, has triggered a record-breaking wave of negative commentary.

Data from Santiment Intelligence shows that the positive-to-negative commentary ratio for Bitcoin has plummeted to 0.58 bullish comments for every bearish one, indicating an overwhelming sense of fear among investors.

The Coldcard exploit involved malicious firmware distributed by attackers, which stole wallet seed phrases during the device setup process. Approximately 1,200 wallets were compromised, resulting in nearly $70 million worth of Bitcoin being drained from these accounts.