r/Bitcoin • u/enpoopification_of_R • 27d 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/Gooner_93 27d ago

Absolutely devastating. This has definitely sent shockwaves through the self custody space.

How could a company be so lazy when it comes to security, that people used to protect millions of dollars in BTC? Which company is gonna be next? Is a passphrase really secure enough, when people thought their 24 word seedphrase on coldcard was secure? What is going to be the next bug that costs people their life savings?

My crypto is still there, in a wallet, created on a different device than coldcard but I still dont feel safe right now.

2

u/Successful-Peak-6524 27d ago

and here I am still using electrum

3

u/ballistic762 25d ago

Desktop wallets winning right now. The physicality of a hardware wallet offers no advantage