Coldcard Wallet Losses Soar to Over $70 Million

A recent study by Galaxy Research, part of Galaxy Digital, has estimated that over $70 million in Bitcoin was lost due to a security incident involving Coldcard wallets.

The research firm identified 1,196 addresses linked to the incident, which saw a total of 1,082.65 Bitcoin moved across these accounts between July 30th's blocks 960,183 and 960,191.

This new estimate significantly raises earlier projections made by AnchorWatch CEO Rob Hamilton, who initially calculated that around $38 million in Bitcoin was lost across approximately 500 transactions within a three-block window.

The study found that the flagged transactions shared a distinct signature, including identical fees of 30 satoshis per virtual byte and no change outputs. However, Galaxy Research cautioned that future attacks may not follow this pattern.