Coldcard Security Alert: Move Your BTC Funds Now

Coldcard is urging all users to take urgent action after a critical vulnerability resulted in significant Bitcoin losses. The team posted an advisory telling customers to upgrade their hardware devices and generate new seed phrases right away. They are specifically asking users to move their funds to new wallets to prevent further theft.

The security issue first gained attention in late July when users reported missing funds from their hardware wallets. After investigating the situation, the company confirmed the flaw and the scale of the damage. Estimates from Galaxy Research indicate that over 100 million dollars in Bitcoin has been stolen so far, with some reports suggesting the total could be as high as 130 million dollars.

While the situation is serious, some experts point out that the stolen Bitcoin is being tracked on the public blockchain. This could make it difficult for the attacker to spend or sell the coins without being noticed. Traders and investors should prioritize migrating their assets to new wallets immediately to ensure their holdings remain safe while the company works to address the ongoing threat.