Coldcard Wallet Hackers Steal $130 Million from Bitcoin Owners

Hackers have exploited a bug in offline hardware wallets to steal over $130 million from Bitcoin owners. The Coldcard wallet, made by Coinkite, is designed to be a secure way to store cryptocurrency, but it appears that hackers have found a flaw in the device's code.

The problem lies with how the device generates users' seed phrases, which are essentially passwords for their cryptocurrencies. Researchers at Block say that these seed phrases were predictable, making it easy for hackers to brute-force and generate them.

This is not an isolated incident, as there have been over 200 hacks targeting cryptocurrency companies this year, resulting in losses of over $950 million. The fact that the Coldcard wallet was breached is particularly concerning, given its supposed security features.