Coldcard Users Warned of Critical Security Breach, Urged to Migrate Funds Immediately
A recent security breach of Coldcard, a popular Bitcoin-only hardware wallet, has prompted a critical warning from Dogecoin community member Mishaboar.
Mishaboar advises all users who have ever used a Coldcard device to migrate their funds to a new wallet immediately and never reuse the Coldcard seed phrase.
The warning comes in light of an urgent alert by Coldcard, urging its users to upgrade their devices, generate a new seed, and carefully move their funds away from the wallet.
A vulnerability in a March 2021 Coldcard firmware release allowed attackers to drain Bitcoin from thousands of wallets by reproducing keys generated with weak software-based randomness. Galaxy Research found three suspected attack waves targeting addresses generated by Coldcard, involving 4,585 addresses and $88.6 million worth of BTC.
The stolen Bitcoin had been dormant for an average of 3.18 years before the incident, indicating that most victims were long-term holders.