Galaxy Digital: Vulnerability in cold wallet leads to the theft of $70 million
2026-08-01 08:21:32
According to CoinMeta, Galaxy Digital indicates that due to a vulnerability in popular Bitcoin wallet cold cards ( Coldcard ), approximately $70 million in funds were stolen. The attack was caused by a firmware flaw that significantly reduced the randomness of the secret phrases generated by the wallets. Galaxy Digital states that the vast majority of the funds were stolen in less than an hour. The company mentioned that if users do not transfer their funds out of the affected cold card generation addresses, new attacks could occur. The initial effects of this attack can be identified on the blockchain; the incident lasted for six blocks and 41 minutes. There were no settlement activities in the intermediate blocks, indicating that the transactions were broadcast in batches rather than transmitted in a stream. The losses were mainly concentrated among addresses with a value of less than 1 BTC, but in terms of value, they were focused on addresses with a value between 1-50 BTC. The company Coldcard, Coinkite, assumes full responsibility for the firmware flaw and apologizes to the affected users. The company has released emergency firmware updates for all affected models.
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Source:The Daily Hodl
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