Coldcard Hacker Targets Largest Wallets First, Steals $38 Million

A recent attack on Coldcard wallets has left over $38 million in Bitcoin stolen from around 500 wallets. According to Chainalysis, the hacker targeted the largest wallets first, with about $30 million stolen within the first 10 minutes of the attack.

The total value stolen reached $38 million after approximately 25 minutes, and the hacker appeared to have studied the wallet population before proceeding, targeting high-value wallets early in the sweep.

Coldcard users are advised to create a new recovery seed on updated hardware, as installing the latest software update alone is not enough to protect affected seeds. This is due to a firmware flaw that caused the device's hardware random number generator to malfunction during seed creation.