Coldcard Wallet Exploit Hits $88M as Third Wave Strikes
A third wave of thefts targeting Coldcard Bitcoin wallets has pushed total losses to roughly 1,367 BTC across thousands of addresses.
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Key takeaways
- Galaxy Research identified a third wave of wallet drains linked to Coldcard hardware setups.
- Total stolen funds have reached approximately 1,367 BTC, valued around $88 million.
- The ongoing campaign has compromised at least 4,585 individual Bitcoin addresses.
Attackers targeting Coldcard Bitcoin wallets aren't stopping. Fresh data from Galaxy Research shows a third wave of thefts just hit, bringing total observed losses to roughly 1,367 BTC across 4,585 distinct addresses.
That puts the total stolen value at roughly $88 million. Automated drainers are still actively sweeping affected wallets, showing zero signs of letting up.
A Growing Drainer Campaign
Security analysts at Galaxy Research tracked this latest surge as the operators expanded their scope. The exploit targets users storing funds via Coldcard hardware units. What began as scattered, isolated balance drains has quickly turned into a systematic, multi-wave campaign.
Thousands of individual holders are paying the price. With 4,585 addresses drained clean so far, the perpetrators are methodically siphoning off funds as soon as they locate vulnerable configurations.
Why it matters
Hardware wallets are supposed to be the gold standard for self-custody. When a premier cold storage device faces an exploit on this scale, it undermines the core assumption that off-exchange storage guarantees safety. If you hold Bitcoin on a Coldcard, check your addresses immediately and audit your setup for compromised keys.
Source: Decrypt
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Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
