Coldcard Theft: FBI Probes Multi-Million Dollar Bitcoin Heist

The FBI is investigating a series of Bitcoin thefts linked to Coldcard hardware wallets. The first wave, which occurred earlier this year, saw 1,082.65 BTC (worth around $69 million at recent prices) stolen from users with flawed firmware.

According to Galaxy Research analyst Alex Thorn, law enforcement may have identified the person behind the first attack, but no arrest or fund seizure has been announced yet.

The theft was attributed to a paid blockchain data account used during the attack. Block's engineering lead Clay Garrett said that his team found an unusual pattern in how the attacker searched for wallet data, which led them to contact the provider and pass on the information to authorities.

Coinkite, the company behind Coldcard, has told users to update their firmware, create a new seed, and move their funds to stay safe. At least 1,700 BTC has been stolen across multiple theft waves tied to the same firmware flaw.