Coldcard Bitcoin Loss Estimates Climb to $70 Million

A fresh analysis from Galaxy Research indicates that the scope of the recent Coldcard wallet incident is larger than expected. The investigation uncovered 1,196 affected addresses that collectively lost over 1,000 Bitcoin. At current market rates, this puts the total value of lost funds at roughly 70 million dollars.

The activity occurred during a concentrated 41 minute window. This rapid drain highlights the risks associated with hardware wallet management during security vulnerabilities. Security experts are still examining how the breach occurred and why so many accounts were impacted in such a short time.

Investors who hold assets in cold storage should remain vigilant and check official communications from wallet manufacturers for security updates. Following this event, many in the community are calling for more transparency regarding how these devices handle private key integrity. Keep an eye on any further technical audits or recovery measures announced by the team.