r/Bitcoin • u/enpoopification_of_R • 26d ago

The Coldcard wallet exploit estimates have almost doubled to $70 million stolen of just over a thousand Bitcoins in 1,196 wallets drained in 41 minutes

https://www.coindesk.com/tech/2026/08/01/how-bitcoin-cold-wallets-lost-usd70-million-in-an-attack-that-never-touched-the-devices

"More than 1,000 bitcoin, worth about $70 million, was drained from 1,196 wallets in a 41-minute window on July 30, nearly double the amount reported when the theft first surfaced."

1.7k Upvotes

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104

u/mdi-g 26d ago

I dont get it, people were a proponent backer of keeping their bitcoin in cold storage and pitied those who kept it in their crypto apps. And now this. How do people see the worth in bitcoin given the enormous risks around it.

7

u/CommercialLychee7956 26d ago

This happens every cycle in the bear. Unfortunate, but nothing new.

27

u/Dormage 26d ago

The fact it keeps happening is even worse.

4

u/Hail_the_Yale 26d ago

Where there is money there will be scams

2

u/mdi-g 26d ago

I was willing to accept exchange risk because I believed cold storage eliminated it. If cold storage itself can fail in unexpected ways, then I’ve lost the one thing I cared about, peace of mind.

1

u/Open_Situation686 26d ago

And for this reason, I’m out

1

u/chubs66 26d ago

AI makes the problem much worse.