Coldcard Wallet Theft Hits $114 Million Total

Hackers are continuing to drain funds from Coldcard wallets, with total losses now estimated at over $114 million. A new wave of attacks began late Sunday, moving hundreds of Bitcoin that were previously held in secure storage. The breach stems from a firmware bug in the Mk3 devices that caused seed generation to use weak software instead of reliable hardware random number generators.

This vulnerability allowed attackers to predict private seed phrases and access user wallets. Coinkite, the manufacturer behind the devices, has acknowledged that all its models are potentially at risk. The company has since halted all shipments and destroyed its remaining inventory of the affected hardware.

Industry experts warn that anyone using these devices should move their Bitcoin immediately. While investigators from Block are tracking the movement of stolen funds and working with federal authorities, the damage for many users remains permanent. This incident serves as a painful reminder of the risks associated with hardware security flaws.