Coldcard Warns Firmware Update Won't Cure Compromised Wallet

Coldcard has released new firmware after a $114 million Bitcoin theft tied to a flaw in its hardware wallet. The company warned that installing the firmware does not make an already compromised wallet safe.

The update follows three weeks of review that uncovered additional bugs unrelated to the original exploit, including some caught with the help of AI.

Coldcard emphasized that a patch is not a rescue for a compromised device. If an attacker was able to extract key material through malicious firmware or another vulnerability, the exposed credentials remain dangerous no matter how many patches arrive later.