Coldcard Users Warned of Critical Vulnerability

A critical warning has been issued to users of Coldcard, a popular Bitcoin-only hardware wallet. Mishaboar, a vocal Dogecoin community member, urged anyone who has ever used a Coldcard device to migrate their funds to a new wallet immediately.

The alert comes after an urgent notice from Coldcard itself, which advised users to upgrade their devices and generate a new seed phrase due to a vulnerability in the March 2021 firmware release.

This weakness allowed attackers to drain thousands of wallets by reproducing keys generated with weak software-based randomness. According to Galaxy Research, three suspected attack waves targeting addresses generated by Coldcard have been identified, involving 4,585 addresses and a total of $88.6 million in stolen BTC.