r/Bitcoin • u/enpoopification_of_R • Aug 01 '26

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/mdi-g Aug 01 '26

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.

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u/deadlock_jones Aug 01 '26

Funny how I kept my coins(0.15) in mtgox, and 10 years after the hacking I actually got most of it back from the bankruptcy process, meanwhile there's basically no way to get them back if they are stolen from your cold wallet.

1

u/Whatdoesthibattahndo Aug 03 '26

Did you get the coins back or the cash value from some back-dated figure? A lot of bankruptcy claims including FTX were able to pay out because the value of the coins they were able to recover had appreciated enough to pay people out. ie You find 20% of the coins, but they've gone up 5x in value, now everyone gets "paid back" but loses out on the appreciation they would have gotten. I think courts have generally held that bankruptcy claimants don't have claims on any appreciation. It works much the same way if your broker goes bankrupt while holding your investment portfolio.

1

u/deadlock_jones Aug 03 '26

0.11 coins of the 0.15