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Fortune
Fortune
Business
Camila Grigera Naón

Bitcoin owners rocked by $116 million hack: What we know about the Coldcard exploit

A physical Bitcoin coin held between an index finger and a thumb. (Credit: Nikolas Kokovlis—Getty Images)

A security hack has once again rocked crypto. Since Thursday, Bitcoin owners who store their crypto with Coldcard, which offers a form of hyper-secure storage known as a hard wallet, have experienced four waves of thefts that have affected more than 5,200 individual addresses. An on-chain analysis by blockchain intelligence firm Galaxy Research revealed that the hackers have already moved approximately 1,816 Bitcoin, worth nearly $116 million, off those wallets.

It remains unclear who is behind the hack. While recent large crypto thefts have often been attributed to state-backed groups in North Korea or Russia, investigators have not yet linked this incident to any specific actor.

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