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Galaxy Research Raises Coldcard Loss Estimate to $70M

Guavy AI Editorial Team
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Galaxy Research has updated its analysis of the Coldcard wallet security incident. The company estimates that over $70 million in Bitcoin was stolen during a 41-minute window on July 30. This is significantly higher than an earlier estimate of around $38 million.

Galaxy Research identified 1,196 addresses linked to the Coldcard wallet incident that lost 1,082.65 Bitcoin. The transactions occurred between 1:10 AM and 1:51 AM UTC across blocks 960,183 to 960,191.

Coinkite co-founder Rodolfo Novak acknowledged the firmware bug behind the security issue. He warned users who generated seeds on vulnerable firmware to move their funds to a new seed.

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