Coldcard Wallet Hack Losses Top $100 Million

Crypto users are facing a major security crisis as confirmed losses from the Coldcard Bitcoin wallet hack have climbed past $100 million. Researchers at Galaxy are now warning the community that a fourth wave of attacks is already in motion. This ongoing exploit could potentially push the total financial damage toward $130 million if the trend continues.

The root of the issue is a firmware bug that has existed since March 2021. Because this vulnerability has remained open for years, attackers have had ample time to target hardware wallets that have not been updated. Security experts are analyzing the technical details to explain how such a significant flaw went undetected for so long.

This incident serves as a stark reminder for all hardware wallet users to stay updated on firmware releases. The situation is still active, meaning the risk to funds remains high. Investors should check their security protocols immediately to ensure their assets are protected against this specific exploit.