Bitcoin Activity Surges as Users Abandon Coldcard Wallets

Bitcoin network activity reached its highest point since 2026 this week as users rushed to move their funds. Data shows 2.27 million new wallets were created, while 751,000 active addresses performed transactions. This sudden increase in onchain activity is driven by security fears rather than a new market rally.

The surge follows reports of a firmware exploit affecting Coldcard hardware wallets. Investors are moving their assets to new storage solutions to prevent potential losses. This shift comes after reports indicated that more than $116 million has been drained from affected users.

While high activity usually suggests a bullish sentiment, the current numbers reflect a defensive move by holders. Market observers are watching to see if this trend continues as users secure their private keys. Investors should prioritize verifying their hardware security settings while the situation remains volatile.