Coldcard Wallet Users Warned of Ongoing Attack Waves

A warning has been issued to users of Coldcard wallets after a security breach was discovered in the device's firmware. Mishaboar, a vocal member of the Dogecoin community, took to X to advise users to migrate their funds to a new wallet immediately.

The vulnerability allowed attackers to drain Bitcoin from thousands of wallets by reproducing keys generated with weak software-based randomness. Coldcard had previously alerted its users to upgrade their devices and generate a new seed, but it appears some users have yet to take action.

A study by Galaxy Research identified three suspected attack waves targeting addresses generated by Coldcard, involving 4,585 addresses and a total of $88.6 million in BTC. The stolen funds remain dormant in attacker-controlled addresses, with an average dormancy period of 3.18 years.