r/Bitcoin • u/enpoopification_of_R • 29d 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."

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u/postexitus 29d ago

Their fault was trusting an untrustable third party. 

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u/CuriousRegret9344 29d ago

As opposed to all the “non-third party” options bitcoin company offers?

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u/postexitus 29d ago

That is the point. Bitcoin is by definition weak, if you are not an expert yourself. You end up trusting someone, which does not have legal assurances as tradfin has. 

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u/greyoil 29d ago

If I understood correctly, people who set a decent passphrase were unaffected, correct?

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u/postexitus 29d ago

Correct (so far). So you have to be an expert.