The attack amount on Coldcard hardware wallets has expanded to $116 million, affecting over 5,200 addresses

The Coldcard hardware wallet attack has expanded to approximately $116 million, with attackers transferring 1,816 BTC from over 5,200 addresses. Galaxy Research confirmed that a fourth wave of transfers has occurred, with this wave alone transferring about 449 BTC after adjustments.

Alex Thorn, head of Galaxy Research, stated that the latest activity may be "the fourth round of organized theft," with a transfer rate reaching 13.8 transactions per block, which is about 45 times the baseline level before the incident. Their analysis suggests that the related patterns indicate multiple groups may be scanning the affected key space in parallel. The root of the incident can be traced back to a 2021 firmware update for some Coldcard devices, which changed the wallet seed generation process from a hardware random source to a predictable software model. The Canadian manufacturer Coinkite recommends that users who generated wallet seeds on Coldcard devices transfer their funds to a new secure wallet as soon as possible.