Crypto

Self-Custody Wallet Hack Raises Questions Over Loss Estimation

Guavy AI Editorial Team Published August 11, 2026

Instruments

BTC

A recent hack of self-custody wallets is challenging crypto investigators to measure losses. The incident has led to conflicting estimates, with some analysts suggesting a higher toll than others. Blockchain analytics platform CryptoQuant currently puts confirmed losses at 1,432 Bitcoin (BTC), but other experts have traced more funds to the attack.

Galaxy Research and blockchain intelligence company TRM Labs both suggest that their analysis points to a higher number of losses. Alex Thorn from Galaxy told Cointelegraph that their earlier estimate of up to 1,816 BTC was 'a potential figure rather than a confirmed loss total.' They have directly confirmed 450+ BTC from victim reports but suspect many more funds they cannot yet sufficiently verify.

TRM Labs' recent analysis estimated that attackers drained about 1,816 BTC from over 5,200 addresses across four waves. Ari Redbord from TRM said investigators should expect the estimate to keep increasing before it stabilizes.

Self-Custody Wallet Hack Raises Questions Over Loss Estimation

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