Coldcard Wallet Loss Soars to $70M After Galaxy Research Analysis

The estimated loss from the Coldcard wallet incident has risen to $70.2 million after analysis by Galaxy Research.

Galaxy Research identified 1,196 addresses linked to the incident that lost 1,082.65 Bitcoin in a 41-minute window between 1:10 AM and 1:51 AM UTC on July 30.

The affected transactions were found across blocks 960,183 to 960,191, about 30 hours before Coldcard published its first security advisory.

Coldcard's firmware bug led to the loss of funds, according to Coinkite co-founder Rodolfo Novak, who took responsibility for the issue and warned users who generated seeds on vulnerable firmware to move their funds to a new seed.