Coldcard Hack Triggers Record Small Bitcoin Transfers Amid Growing Concerns

A recent suspected hack of Coldcard wallets has led to a surge in small Bitcoin transfers, with approximately 39,600 BTC moved on July 31. This is one of the highest levels since the FTX collapse last year.

CryptoQuant reported that these smaller transactions have been increasing steadily over the past few days, reaching numbers not seen since the 2022 FTX crisis.

Galaxy Research estimates that around 1,367 BTC has been compromised across 4,585 addresses due to the suspected hack. Users of affected Coldcard wallets are being urged to generate new wallet seeds and transfer their funds immediately.