Coldcard Hackers Freeze Over $114 Million Worth of Bitcoin

A recent hack targeting Coldcard users has led to significant losses, with over half of reported cases involving more than 1 BTC stolen. Galaxy Research attributes 1,789.28 BTC, worth $114.7 million at the time of theft, to the exploit. The median loss among victims was 1.04272 BTC, indicating that many users lost substantial amounts of Bitcoin.

The hack has affected 8,865 addresses, with the majority (87.3%) remaining frozen in attacker-controlled wallets. Researchers believe most stolen funds have not been laundered yet, with some movement detected through CoinJoin transactions and peel chains. The attackers have shared identified addresses with exchanges, compliance firms, and law enforcement agencies to freeze potential further transfers.

The fact that a significant portion of stolen Bitcoin remains unmoved offers a glimmer of hope for victims, but recovery is uncertain as long as the assets remain under the attackers' control. The full extent of the hack's impact may never be known due to the large number of affected users and limited victim reports.