Coldcard Warns Mk3 Users After Major Bitcoin Wallet Drain

Hardware wallet maker Coinkite has issued an urgent warning for users of the Coldcard Mk3 device. The company is telling everyone to migrate their funds immediately after finding a potential risk in how the device generates seed phrases.

This warning comes at the same time security experts are looking into a mysterious thirty eight million dollar Bitcoin wallet drain. Researchers are trying to figure out if the two events are connected, but users are not waiting around to find out.

Hardware wallets are usually seen as the safest way to store crypto offline. When a popular brand reports a vulnerability, it makes traders and holders check their setups very carefully. If you have an older Mk3 device sitting around, it is definitely time to check your security and move your funds to a safer option.