Coldcard Hack Sends Bitcoin Price Below $63,000 Ahead of Two Major Forks

Bitcoin's price has been affected by a recent security incident involving Coldcard hardware wallets. Attackers exploited a firmware flaw to drain over $230 million in Bitcoin from more than 1,100 wallets.

The hackers used the compromised wallets to send the stolen funds to other exchanges and wallets, making it difficult for the owners to recover their assets. Coinkite, the company behind Coldcard, released patched firmware but advised users to generate new wallet seeds rather than updating their devices.

This incident has contributed to the overall bearish sentiment in the market, with Bitcoin's price dropping below $63,000. Other factors, such as the upcoming BIP-110 and eCash hard fork, are also causing uncertainty among traders.