Coldcard Thefts Spike, Stolen BTC Hits $88M Amid Bearish Sentiment

A third wave of suspected Bitcoin theft linked to a Coldcard firmware vulnerability has stolen approximately $88.6 million, according to recent reports.

The heist occurred in three waves between July 30 and August 1, with the latest incident using complex vault addresses to obscure fund movements.

Concurrently, major crypto exchanges witnessed an increase in Bitcoin deposits, and long-dormant wallets created between 2010 and 2017 began moving coins, signaling possible security concerns among holders.

Analysts continue to monitor the situation closely, as the stolen funds and increased exchange inflows may impact market dynamics amid bearish sentiment and BTC trading below $63,000.