Coldcard Warns Users to Move BTC Amid Ongoing Wallet Draining Incident

Coldcard, a maker of hardware Bitcoin wallets, has issued a security update urging users to move their funds after an ongoing incident in which Bitcoin is being drained from affected devices.

The security update recommends that users follow the model-specific advisory, upgrade their device, generate a new seed, and transfer their BTC. This is intended to reduce exposure and contain the potential financial consequences for individual users.

The incident has directly raised custody and wallet-security concerns for Bitcoin holders using affected Coldcard devices. The security update does not specify how many wallets or users are affected, making it unclear what the broader scale of the incident is.