Galaxy Reports $70M Bitcoin Drain Across 1,196 Wallets

Security researchers at Galaxy have revealed a major crypto incident involving a $70 million Bitcoin drain. The breach impacted 1,196 wallets, highlighting serious risks tied to hardware wallet reliance. The drain reportedly occurred right before a vulnerability disclosure involving Coldcard devices.

This event serves as a sharp reminder for crypto holders to stay vigilant about device security. Timely firmware updates and proper operational safety remain critical for keeping digital assets secure against unexpected hardware exploits.

Traders and long term holders should monitor how hardware wallet manufacturers respond to this incident. Keeping a close eye on security advisories will help the community avoid similar losses in the future.