Coldcard Wallets Drained by Four Waves of Exploits: $70M in Losses

Coldcard wallets have been drained in four waves of attacks so far, with losses surpassing $70M. The vulnerability allows attackers to discover vulnerable addresses using AI compute and exploit them for their funds.

The initial attack targeted over 500 wallets, but it was not the only instance of this issue. Long-term holders who did not move their coins are still at risk, as they have not updated their wallets with new, safely derived keys.

Coldcard's appeal to Bitcoin maximalists and wide recommendation made it a prime target for hackers. A recent report showed that even a few minutes of AI compute can discover vulnerable addresses.