Coldcard Hack Fallout Drives Bitcoin Wallet Surge
Bitcoin's network activity has reached its highest level in months, with 751,000 active wallets and 2.27 million new ones created. This spike is attributed to a security-driven surge, rather than a buying spree, as exchange inflows have remained relatively low.
The trigger for this behavior is the recent Coldcard hack fallout, which has led security-conscious holders to generate new wallets on unaffected hardware, sweep their coins to fresh addresses, and rotate away from vulnerable setups. This has resulted in a significant increase in wallet creation and activity.
Experts have emphasized that the weakness was not in Bitcoin itself, but rather in how one manufacturer's firmware generated randomness for seed phrases, a self-custody supply-chain failure.