'I'm Done With Bitcoin': $126,720 Gone Overnight, Eight Years of Saving Wiped Out in Coldcard Hack

Coldcard attacks likely continued in waves despite efforts to mitigate risks (Credit: Canva Collage)

Bitcoin investors were taken aback after Coldcard wallets created by Canada-based Coinkite, designed to function as a BTC-only hardware cold wallet to help store BTC private keys offline, were breached.

Multiple media outlets and security experts mapped the attack and linked it to a firmware flaw in Coldcard, which was exploited to drain 1,196 BTC addresses in 41 minutes on 30th July, stealing over 1,082.65 BTCs worth over $70 million. Some experts believe the attack is ongoing in waves, while urging investors to move their funds away from affected Coldcard devices.