Coldcard Hack Spooks Bitcoin Investors into Moving Big

The recent Coldcard hack has sent shockwaves through the Bitcoin community, prompting long-term holders to move their assets to safer locations. According to CryptoQuant's head of research, Julio Moreno, people are exercising extreme caution after the hack, with large amounts of Bitcoin being moved.

Data shows that Bitcoin's daily active addresses jumped from around 645,000 on July 30 to nearly 1 million on July 31, the highest reading since December 10, 2024. This surge in activity is likely tied to a chain of Bitcoin thefts exploiting a flaw in Coldcard's random number generation.

The issue raised concerns that single-signature addresses created after a firmware update in March 2021 were exposed to theft risk. This has prompted long-term holders to take action, moving their assets to safer locations amidst investor anxiety.