White Hat Hackers Rescue Millions in Bitcoin from Coldcard Attackers
A group of white hat hackers has successfully rescued millions of dollars in Bitcoin from malicious attackers who exploited a Coldcard firmware bug. According to Galaxy Digital's Head of Firmwide Research, Alex Thorn, the white hats secured 52.37 BTC before the attackers could steal it.
The funds, worth over $4.4 million at current prices, were consolidated into an address controlled by Crypto Recovery Trust, a Wyoming trust established to help legitimate white hats recover assets for victims.
Thorn's investigation has uncovered that some of the people sweeping wallets weren't thieves, but rather white hat hackers trying to beat the attackers to the money. He calculates that 40% of funds from Coldcard's Wave 2 were swept by white hats protecting victim funds.
The recovery trust now faces the task of returning the 52.37 BTC to its rightful owners, but proving ownership will be a challenge due to the complexity of the exploit.