Coldcard Hacked: Over $114 Million Lost as Hackers Drain Wallets

Coldcard Bitcoin wallets have been hacked, resulting in an estimated loss of over $114 million. The attacks started on Thursday and continued throughout the weekend, with hackers taking over $35 million in Bitcoin from wallets initially.

A firmware bug in Coldcard Mk3 devices, starting with version 4.0.1 in March 2021, allowed hackers to guess investor seedphrases due to a weak software pseudorandom number generator being used instead of the hardware true random number generator.

The theft has been described as 'some of the hardest' in Coinkite's history by company officials, who have admitted all of their models were vulnerable following more thefts. Engineers warn that all Bitcoin addresses related to Coldcard could be at risk eventually.