Coldcard Exploit Drives Record Inflows to Centralized Exchanges

A recent exploit in Coldcard hardware wallets has led to a record influx of assets into OKX, a centralized exchange. The company's Chief Compliance Officer, Jonathan Brockmeier, attributed this trend to customers rethinking self-custody after the attack.

The Coldcard flaw allowed hackers to steal 1,596 Bitcoin (BTC) across three verified attack waves, with potential losses reaching up to 2,055 BTC. This represents one of the largest known Bitcoin thefts tied to a wallet seed generation vulnerability.

OKX has reported preventing $26.3 million in scam-related losses and protecting over $1.1 billion in customer assets during the first half of 2026. The company uses artificial intelligence to monitor blockchain activity for suspicious patterns and employs dedicated security teams and automated monitoring systems.