Coldcard Hacker Moves 10% of $114.7M Stolen Bitcoin

A hacker behind one of the largest hardware wallet exploits in recent memory has made a move on a small portion of the stolen funds. According to blockchain researchers, roughly 10% of the $114.7 million stolen from the Coldcard Bitcoin theft has been moved through THORChain into a freshly created Ethereum address.

Galaxy's head of research, Alex Thorn, flagged the transfer on X, noting that it's the first onchain movement from the original hacker addresses since the funds were first drained. The remaining 90% of the stolen Bitcoin is still parked exactly where the hacker initially stashed it.

The hacker appears to be facing difficulties in swapping all the funds through THORChain, repeatedly getting refunded and retrying the transactions. This has raised questions about the attacker's ability to move the rest of the stolen funds undetected.