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Bitcoin owners rocked by $116 million hack: What we know about the Coldcard exploit

Bitcoin owners rocked by $116 million hack: What we know about the Coldcard exploit

A security hack has once again rocked crypto. Since Thursday, Bitcoin owners who store their crypto with Coldcard, which offers a form of hyper-secure storage known as a hard wallet, have experienced four waves of thefts that have affected more than 5,200 individual addresses. An on-chain analysis by blockchain intelligence firm Galaxy Research revealed that the hackers have already moved approximately 1,816 Bitcoin, worth nearly $116 million, off those wallets.

It remains unclear who is behind the hack. While recent large crypto thefts have often been attributed to state-backed groups in North Korea or Russia, investigators have not yet linked this incident to any specific actor.

Coldcard, made by Canadian technology firm…

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