Coldcard Exploit Stuns Crypto Community with $111M+ Losses

A massive exploit has been confirmed in Coldcard hardware wallets, resulting in the theft of at least 1,719 BTC, valued at around $111 million. Galaxy Research warns that total losses could surpass $130 million once all outstanding cases are verified.

The vulnerability appears to be a complex issue, with multiple threat actors exploiting it and over 25 distinct attack patterns identified. The number of victims is growing rapidly, with reports from over 250 individuals received by Galaxy.

The incident has significant implications for the self-custody culture in cryptocurrency, with Coldcard being one of the most secure Bitcoin hardware wallets available. The fact that it has been compromised at this scale will likely rattle confidence among users and raise questions about the security of other devices.