Willy Woo Sees Coldcard Recovery Hopes Rise Amid Historical Precedents

Bitcoin analyst Willy Woo has estimated that authorities have a 20-40% chance of recovering part of the Bitcoin stolen through the Coldcard vulnerability. According to Woo, this estimate is based on historical crypto recoveries spanning billions of dollars, where stolen assets can return after years.

The examples cited by Woo include the 2016 Bitfinex hack, where approximately $6.4 billion was reclaimed, and the Poly Network exploit, which resulted in a $610 million return. The U.S. Department of Justice (DOJ) also recovered more than 94,000 Bitcoin tied to the Bitfinex hack nearly six years after the theft.

JAN3 CEO Samson Mow urges victims to preserve evidence and avoid scams. He recommends documenting wallet details, filing police reports, monitoring efforts tracking stolen funds, retaining hardware wallets and seed phrases, and rejecting anyone offering paid recovery services.