Coldcard Hack Triggers Small BTC Transfer Surge

The recent Coldcard wallet hack has led to a surge in small Bitcoin transfers. According to CryptoQuant, on July 31, around 39,600 BTC moved in transactions of less than 1 BTC. This is the highest level since the FTX collapse in 2022.

Galaxy Research estimates that approximately 1,367 BTC has been compromised across 4,585 addresses as a result of the hack. Affected Coldcard wallet users have been advised to generate new wallet seeds and transfer their funds immediately.