Coldcard Hackers Snared in $4.5M White-Hat Rescue

A group of white-hat researchers has successfully rescued $4.5 million worth of Bitcoin from a Coldcard exploit, with the funds now being held in a Wyoming trust for verified victims to reclaim.

The hack, which began on July 31, targeted Bitcoin held through Coinkite's Coldcard hardware wallets and was caused by a firmware bug affecting seed generation, allowing attackers to use predictable seed data to identify wallet credentials and access funds.

Galaxy Digital researcher Alex Thorn confirmed that the rescued Bitcoin represents about 2.8% of the total funds connected to the exploit, with 1,789.28 BTC (worth around $154.1 million) still missing.