Crypto
Coldcard Wallet Bug Triggers Massive Bitcoin Movement, Market Distortion
Coldcard, a hardware maker, warned users that wallets generated with affected firmware could be drained due to a software error producing seed phrases with less randomness than intended.
The security incident resulted in three suspected attack waves targeting 4,585 addresses and draining 1,367.05 BTC ($63,216.00 · Live), worth about $89 million.
CryptoQuant research head Julio Moreno noted that transactions involving outputs of less than 1 BTC reached 39,600 BTC on July 31, the largest daily total for the cohort since November 2022, when 39,900 BTC moved shortly after FTX collapsed.