Coldcard Exploit Drives Bitcoin Onchain Activity to Yearly High
Bitcoin onchain activity has surged to its highest level of 2026 as researchers link the surge to the ongoing Coldcard wallet exploit. The incident has prompted some users to move funds to centralized exchanges while raising new questions about hardware wallet security.
K33 Research said nearly 890,000 BTC has moved onchain over the past seven days, the highest seven-day active supply recorded this year. This comes despite Bitcoin trading within one of its tightest price ranges in recent years.
The research team noted that similar bursts of onchain activity have repeatedly appeared around major market reversals. They said periods when seven-day active supply entered the top 10% of observations compared with its rolling 365-day history aligned with local tops and bottoms during previous market cycles.