Coldcard Hacker Moves $7.8M in Stolen BTC Amid Systematic Draining Strategy
A recent analysis by Galaxy Research has revealed that the attacker behind the third wave of the Coldcard exploit has moved a significant portion of the stolen Bitcoin. Specifically, the hacker has transferred approximately $7.8 million worth of BTC, which accounts for about 45% of the total amount stolen.
The attacker's strategy appears to be systematic and deliberate, as they are draining funds from the largest vaults first. According to Galaxy Research data, vaults 1 through 11 have already been emptied, while the next 10 vaults contain around $30.81 million worth of BTC between them.
What's more concerning is that the attacker used CoinJoin mixers to obscure their transaction trail, making it challenging for law enforcement and cryptocurrency exchanges to track the funds. Currently, about 82% of the stolen funds remain in the attacker's wallets, while around 18% shows signs of laundering activity.