Galaxy Research Reveals Coldcard Wallet Heist Totaled $70M

Galaxy Research expanded its on-chain tracing of the Coldcard wallet incident, identifying 1,196 affected Bitcoin addresses that lost a total of 1,082.65 BTC, worth about $70.2 million at the time, in a 41-minute window.

The incident occurred between 1:10 AM and 1:51 AM UTC on July 30, across blocks 960,183 to 960,191, roughly 30 hours before Coldcard published its first security advisory.

Galaxy Research's tracing covers a broader timeframe than earlier estimates by AnchorWatch CEO Rob Hamilton, who pointed to 594.48 BTC moving through a three-block window.

The company says the transactions share a distinctive pattern on-chain, identical 30 satoshis per virtual byte fees and no change outputs, but future sweeps may differ.